US Dollar testing highs near 99.70 ahead of Fedspeak
|The greenback – measured by the US Dollar Index – is extending its bounce off recent lows to the 99.65/70 band, or session peaks.
US Dollar attention to data, Fedspeak
After hitting fresh 4-month lows in the mid-98.00s on Monday, the index sparked some buying interest and has not only regained the 99.00 handle but also managed to keep the advance well and sound towards current levels around 99.60.
USD found dip buyers near the critical 200-day sma around 98.50 earlier in the week, while a robust print from CB’s Consumer Sentiment and hawkish messages from Tuesday’s Fed-speakers collaborated with the upside momentum.
In the US data space, Pending Home Sales will be the sole data release later today along with speeches by Chicago Fed C.Evans (voter, dovish), Boston Fed E.Rosengren (2019 voter, dovish) and San Francisco Fed J.Williams (2018 voter, centrist).
US Dollar relevant levels
The index is up 0.13% at 99.66 and a break above 99.81 (high Mar.24) would aim for 100.27 (high Mar.20) and then 100.63 (20-day sma). On the flip side, the next support aligns at 98.67 (low Mar.27) followed by 98.62 (200-day sma) and finally 98.31 (10-month support line).
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