US Dollar upside lost momentum near 91.80

The US Dollar Index (DXY), which gauges the buck against a basket of its major competitors, has managed to trim some losses and is now hovering over the 91.70/80 band.

US Dollar lower on US yields, data

The index is on its way to close the week on the negative territory, reverting the previous advance while finding at the same time strong resistance around the 200-week sma, today at 92.76.

Collaborating with the downside, yields of the US 10-year reference keep the trade close to daily lows, reverting a 10-day positive streak although closing on the positive side for the second week in a row.

In the US data space, Markit’s preliminary manufacturing PMI came in at 53.0 for the current month, while the services gauge missed estimates at 55.1. Further news saw KC Fed E.George arguing that the economy could be running at full employment, adding that soft inflation readings do not seem related to weak economy.

US Dollar relevant levels

As of writing the index is retreating 0.46% at 91.72 and a break below 91.53 (low Sep.20) would open the door to 91.01 (2017 low Sep.8) and finally 87.63 (low Dec.16 2014). On the upside, the initial hurdle aligns at 92.22 (21-say sma) followed by 92.69 (high Sep.20) and then 93.26 (55-day sma).