US Dollar Keeps Highs Near 94.30

US Dollar Keeps Highs Near 94.30

10 May 2016, 15:06
Roberto Jacobs
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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).


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