US dollar index unchanged on Monday, remains below 101.00
|The US dollar is posting mix results on Monday in the forex market on a quiet day, with extremely low volatility due to the holiday in the US. The greenback rose against the yen and lost ground versus the pound and the Australian dollar. Most of the pairs were about to end the day near Friday’s closing levels.
The US dollar index, which gauges the US dollar against its main competitors, was hovering around 100.90, flat for the day. The index bottomed at 100.75 and then bounced to the upside but it was unable to rise above 101.00.
Volatility is likely to start rising on Tuesday, with Wall Street back to normal. The key event of the week will be on Wednesday with the release of the FOMC minutes from the latest meeting.
DXY levels
To the downside, support levels might lie at 100.75 (Feb 20 low), 100.40 (Feb 15 low) and 100.00 (psychological). On the upside, resistance could now be seen at 101.00/05 (Feb 16 high), 101.35/40 (Feb 14 high) and 101.70/75 (Feb 15 high).
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