US Dollar vigilant, clings to 96.00

Pablo Piovano FXStreet

The greenback, measured by the US Dollar Index, is trading almost unchanged on Wednesday, currently hovering over the low-96.00s.

US Dollar supported near 95.80

The index has managed to retake the 96.00 handle and beyond after a knee-jerk towards the 95.80 area earlier in the session.

USD remains wary of the recent developments following the ‘Brexit’ vote and in light of the EU Leaders Summit today, where the recent decision by the UK will take centre stage and is expected to drive the sentiment ahead in the day.

Data wise in the US docket, inflation figures gauged by the PCE are due, seconded by Personal Income/Spending, Pending Home Sales and the weekly report on crude inventories by the EIA.

US Dollar relevant levels

The index is retreating 0.01% at 96.18 facing the next hurdle at 96.86 (high Jun.27) followed by 97.09 (high Mar.16) and finally 98.58 (high Mar.1). 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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