US Dollar under pressure near 92.00
|The US Dollar Index – which tracks the buck vs. its main competitors – keeps fading yesterday’s uptick and is now challenging the critical support at 92.00 the figure.
US Dollar upside capped near 92.70
The index remains entrenched into the negative ground so far on Thursday, giving away part of yesterday’s important advance to fresh multi-day tops in the boundaries of 92.70.
USD gained extra buying interest following an unexpected hawkish tone from the Federal Reserve at its meeting on Wednesday, announcing that it will start reducing its balance sheet in October and keeping unchanged the ‘dots plot’ for this year and 2018.
However, the selling sentiment seems to have returned to the markets today, fuelled mainly by the retracement in yields of the US 10-year benchmark, currently navigating the area of daily lows around the 2.25% handle
In the US data space, both initial claims and the Philly Fed manufacturing index surpassed initial estimates.
US Dollar relevant levels
As of writing the index is retreating 0.29% at 92.12 and a break below 92.06 (10-day sma) would open the door to 91.61 (low Sep.20) and finally 91.01 (2017 low Sep.8) On the upside, the initial hurdle aligns at 92.69 (high Sep.20) followed by 93.35 (55-day sma) and then 94.03 (23.6% Fibo of the 2017 drop).
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.