US Dollar clinches highs near 95.60 ahead of US PCE

Pablo Piovano FXStreet

The greenback, tracked by the US Dollar Index, is extending its upside momentum to session peaks in the vicinity of 95.60.

US Dollar focus on US data

The index remains on a firm fashion at the beginning of the week, boosted by the recent hawkish tone from Chair Yellen at the Jackson Hole Symposium as well as supportive Fedspeak for a rate hike in the next months.

USD has advanced to fresh 2-week tops well above the 95.00 handle and remains well poised to challenge August’s tops in the mid-96.00s should the up trend gathers further impulse.

Later in the NA session, US inflation figures gauged by the PCE for the month of July area due along with Personal Spending/Income and the Dallas Fed Manufacturing index.

US Dollar relevant levels

The index is up 0.04% at 95.61 with the next hurdle at 96.37 (200-day sma) ahead of 96.50 (high Aug.5) and finally 96.86 (high Jun.27). On the other hand, a breakdown of 95.26 (20-day sma) would aim for 95.14 (100-day sma) and then 94.05 (low Aug.18).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Bearish	Neutral	High
1H	Bullish	Overbought	Low
4H	Bullish	Overbought	High
1D	Bullish	Neutral	Expanding
1W
Updated Aug 29, 08:45 GMT

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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