US Dollar tumbles to lows near 96.20 ahead of GDP
|The greenback, tracked by the US Dollar Index, is extending its weekly decline to the area of 96.20 ahead of key releases in the US economy.
US Dollar weaker pre-GDP
The index has dropped to fresh 2-week lows around 96.20, retracing further Monday’s 4-month peaks at 97.62 against a backdrop of increasing offered bias accentuated after the dovish statement at the FOMC meeting on Wednesday.
USD will remain under pressure later in the NA session, in light of the publication of advanced US GDP figures for the second quarter and the final prints of the Consumer Sentiment gauged by the Reuters/Michigan index for the month of July.
US Dollar relevant levels
The index is losing 0.50% at 96.21 and a break below 95.78 (low Jul.8) would expose 95.38 (low Jul.5) and finally 95.12 (100-day sma). On the other hand, the next resistance lines up at 97.62 (high Jul.25) followed by 98.58 (high Mar.1) and then 99.95 (high Jan.21).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.