US Dollar Keeps Highs Near 94.30
The greenback, tracked by the US Dollar Index, is extending its upside momentum today and is now hovering over highs around 94.30.
US Dollar in 2-week tops
The
buying interest around the dollar remain unchanged today, with the
rally still well and sound after last week’s multi-month lows in the
91.90 region.
A change in sentiment toward the buck has been
recently supported by comments by FOMC governors, stressing the solid
health of the US fundamentals and reiterating that the Fed’s projection
of two rate hikes this year remains appropriated.
In the
almost-empty US docket, NFIB’s Business Optimism index has surpassed
expectations for the month of April, while JOLTs Job Openings and the
API report on crude stockpiles are due later in the NA session.
US Dollar relevant levels
The
index is up 0.13% at 94.25 and a breakout of 95.21 (high Apr.14) would
aim for 95.34 (55-day sma) and then 96.42 (high Mar.28). 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).
