FXStreet (Edinburgh) – The USD Index, which tracks the greenback vs. its major competitors, is recovering part of the ground lost on Monday’s deep sell off, trading closer to the 97.00 mark.
USD Index attention to US docket
The index has left behind yesterday’s 2-week lows and remains on track not only to recover the 97.00 barrier, but also to revert two consecutive weeks of losses.
Ahead in the session, US housing prices tracked by the S&P-Case-Shiller index, CB’s Consumer Confidence and the preliminary Markit’s Service PMI for the current month are all due, looking to add to the recent strong set of positive results in the US economy.
USD Index relevant levels
As of writing the index is advancing 0.40% at 96.89 and a breakout of 97.62 (high Jul.24) would aim for 98.46 (high Apr.21) and finally 99.36 (high Apr.15). On the flip side, the immediate support lines up at 96.29 (low Jul.27) ahead of 96.26 (low Jul.14) and then 95.63 (low Jul.13).
(Market News Provided by FXstreet)