US Dollar Flirting with Highs Above 94.00
The US Dollar Index, which tracks the greenback vs. its main competitors is now advancing further north of the 94.00 barrier, or daily highs.
US Dollar regains 94.00
After bottoming out in the 93.40 area, the decline in the greenback seems to have found buyers, prompting the index to retake the 94.00 handle and advance to fresh 3-day peaks.
On the US data front, Initial Claims have surpassed expectations during last week at 264K, taking the 4-Week Average to 269.5K fro 277K. Next of relevance for the dollar will be tomorrow’s Consumer Confidence by the Reuters/Michigan index.
US Dollar relevant levels
The index is gaining 0.47% at 94.03 facing the next hurdle at 94.40 (38.2% Fibo of the May up move) ahead of 94.54 (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).
