DXY: bears stacking up for a test of 95.20?

Ross J Burland FXStreet

DXY has been trading in a wide range, but mostly better offered.

The greenback was under pressure at the start of the week with poor data in the manufacturing sector (ESM -4.2 from previous 0.55) and inline housing numbers that are all suggesting that the Fed may not be in a position to hike in September, weighing on the US dollar. DXY has been as high as 95.80 with a low of 95.47 and considerably lower than recent highs of 97.50 from late July's business. 95.30 is the key downside for a break to test 95.00 and early August lows.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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