US Dollar looks for direction near 99.70

The greenback – tracked by the US Dollar Index (DXY) – is trading almost unchanged around 99.70 at the end of the Asian session on Friday.

US Dollar focus on data

The index is slowly edging higher during this week, currently posting marginal gains and extending the positive streak for the third session.

The better tone from US yields has been sustaining the up move in the buck, while tepid results from the US docket have been limiting bullish attempts.

USD has also found support in recent comments by US Treasury Secretary S.Mnuchin, who hinted at the likeliness that the Trump administration could unveil plans for a tax reform shortly.

In the US data space, Markit’s advanced Manufacturing PMI for the month of April is due ahead of Existing Home Sales during March.

US Dollar relevant levels

The index is up 0.01% at 99.72 and a break above 100.04 (38.2% Fibo of the March drop) would aim for 100.11 (20-day sma) and then 100.61 (55-day sma). On the flip side, the next support aligns at 99.29 (low Apr.20) followed by 98.98 (200-day sma) and finally 98.67 (2017 low Mar.27).

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 securities. 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 Forex 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.