US Dollar Clinches Daily Tops Near 93.40

US Dollar Clinches Daily Tops Near 93.40

4 May 2016, 17:35
Roberto Jacobs
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US Dollar Clinches Daily Tops Near 93.40

The greenback, tracked by the US Dollar Index, is prolonging its weekly upside and testing session tops near 93.40.

US Dollar boosted by data

It was all the way up for USD after hitting multi-month lows near 91.90 on Tuesday, managing to regain both the 92.00 and 93.00 marks on better sentiment and positive results from the US docket.

In fact, today’s ISM Non-manufacturing, Makit’s Services PMI and Trade Balance have all surpassed expectations, while on the not-so-bright note, the ADP Employment Change showed the US private sector has created less jobs than expected during April, although the greenback quickly shrugged off the results.

US Dollar relevant levels

The index is advancing 0.38% at 93.30 and a breakout of 94.14 (20-day sma) would aim for 95.18 (high Apr.22) and then 95.55 (55-day sma). On the flip side, the next support aligns at 91.89 (2016 low May 3) followed by 91.50 (low Jan.15 2015) and finally 87.23 (low Nov.17 2014).


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