US Dollar Flirting with Highs Near 93.80

US Dollar Flirting with Highs Near 93.80

9 June 2016, 12:39
Roberto Jacobs
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US Dollar Flirting with Highs Near 93.80

The greenback, tracked by the US Dollar Index, has found strong support in the 93.40 area, currently advancing to 93.80, or session highs.

US Dollar supported at 93.40

A better sentiment around US yields continue to support the pick up in the demand for the buck today, managing to advance vs. its main competitors and so far snap a 4-day negative streak.

Data wise in the US docket, Initial Claims will be the main release today ahead of the key Consumer Sentiment gauge by the Reuters/Michigan index expected tomorrow.

US Dollar relevant levels

The index is gaining 0.20% at 93.78 facing the next hurdle at 93.92 (50% Fibo of the May up move) ahead of 94.53 (55-day sma) and then 95.96 (high May 30). On the flip side, a breach of 93.41 (low Jun.8) would open the door to 92.76 (78.6% Fibo of the May up move) and then 91.88 (2016 low May 3).


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