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14 May 2015
DXY off highs near 93.60
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has reversed the initial deep pullback and is now posting marginal gains at 93.60/65.
DXY firmer on data, Draghi
The index managed to recover from multi-month troughs near 93.10 in early trade, following a continuation of the strong sentiment around the risk appetite and the sell-off in the bond markets.
A positive reading from US Initial Claims in the week ended on May 8 plus a QE-friendly tone from ECB’s Draghi helped the index to recover the ground lost and regain the positive territory.
DXY relevant levels
The index is now up 0.02% at 93.63 and a break above 93.75 (high May 14) would aim for 94.59 (high May 13) and finally 95.25 (high May 11). On the flip side, the initial support lines up at 93.17 (low May 14) followed by 92.51 (low Jan.22) and then 92.20 (low Jan.21).
DXY firmer on data, Draghi
The index managed to recover from multi-month troughs near 93.10 in early trade, following a continuation of the strong sentiment around the risk appetite and the sell-off in the bond markets.
A positive reading from US Initial Claims in the week ended on May 8 plus a QE-friendly tone from ECB’s Draghi helped the index to recover the ground lost and regain the positive territory.
DXY relevant levels
The index is now up 0.02% at 93.63 and a break above 93.75 (high May 14) would aim for 94.59 (high May 13) and finally 95.25 (high May 11). On the flip side, the initial support lines up at 93.17 (low May 14) followed by 92.51 (low Jan.22) and then 92.20 (low Jan.21).