7 Aug 2013
US Dollar Index in session lows
FXstreet.com (Edinburgh) -The greenback, tracked by the US Dollar Index, is prolonging its weekly decline, falling since Monday and now hovering over 81.30/35.
DXY hurt by risk-on trade
Increasing risk appetite and uncertainty regarding the timing for the Fed to start scaling back its monthly bond purchases are weighing on the buck and pushing the index to levels last seen in late June. In the short-term, the USD is posed to extend its decline, as the only significant release in the US economy will be tomorrow’s weekly report on the labour market.
DXY key levels
The index is now losing 0.42% at 81.28 facing the next support at 80.50 (low Jun.19) followed by 80.27 (low Feb.20) and finally 79.84 (low Feb.19). On the flip side, a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9).
DXY hurt by risk-on trade
Increasing risk appetite and uncertainty regarding the timing for the Fed to start scaling back its monthly bond purchases are weighing on the buck and pushing the index to levels last seen in late June. In the short-term, the USD is posed to extend its decline, as the only significant release in the US economy will be tomorrow’s weekly report on the labour market.
DXY key levels
The index is now losing 0.42% at 81.28 facing the next support at 80.50 (low Jun.19) followed by 80.27 (low Feb.20) and finally 79.84 (low Feb.19). On the flip side, a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9).