Back
13 Mar 2015
DXY off highs near 100.21
FXStreet (Edinburgh) - After hitting fresh highs in over a decade around 100.35, the US Dollar Index, which tracks the greenback against a basket of its main rivals is now deflating to the 100.20 area.
DXY stronger despite US data
The greenback quickly shrugged off poor results from February’s US Producer Prices and a less auspicious Reuters/Michigan index for the month of March, advancing beyond the psychological 100.00 handle, levels last seen in March 2003.
The index thus left behind yesterday’s sharp correction lower and is on its way to close its 4 fourth consecutive week with gains, climbing vertically since the 94.00 mark.
DXY levels to consider
The index is now gaining 1.16% at 100.27 with the next resistance at 100.35 (high Mar.13) ahead of 101.00 (psychological level). On the downside, a break below 99.19 (low Mar.13) would target 98.65 (low Mar.12) en route to 98.47 (low Mar.11).
DXY stronger despite US data
The greenback quickly shrugged off poor results from February’s US Producer Prices and a less auspicious Reuters/Michigan index for the month of March, advancing beyond the psychological 100.00 handle, levels last seen in March 2003.
The index thus left behind yesterday’s sharp correction lower and is on its way to close its 4 fourth consecutive week with gains, climbing vertically since the 94.00 mark.
DXY levels to consider
The index is now gaining 1.16% at 100.27 with the next resistance at 100.35 (high Mar.13) ahead of 101.00 (psychological level). On the downside, a break below 99.19 (low Mar.13) would target 98.65 (low Mar.12) en route to 98.47 (low Mar.11).