US Dollar retreats from highs, back near 96.00

Pablo Piovano FXStreet

The greenback, tracked by the US Dollar Index, has advanced to fresh tops in the mid-96.00s following the ‘Brexit’ vote at the UK Referendum.

US Dollar in 3-month tops

USD met a sudden wave of buying interest after UK citizens have chosen to leave the European Union at yesterday’s referendum, with the ‘Leave’ vote up to 52% and 48% of the ‘Stay’ option.

With global markets still adjusting to the shocking news, the index managed to climb to fresh multi-month tops around 96.50 ahead of the key opening bell in the Old Continent.

Later in the NA session, US Durable Goods Orders and the Reuters/Michigan index will grab all the attention.

US Dollar relevant levels

The index is advancing 2.89% at 96.04 facing the next hurdle at 97.09 (high Mar.16) followed by 98.58 (high Mar.1) and then 99.95 (high Jan.21). On the flip side, a breach of 93.03 (low Jun.23) would expose 92.52 (low Aug.24 2015) and finally 91.88 (2016 low May 3).

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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