US Dollar testing highs near 95.30
FXStreet (Edinburgh) – The greenback, in terms of the US Dollar Index, is extending the bounce off session lows and is currently trading in the 95.30/35 band, close to daily peaks.
US Dollar indifferent on data
USD is extending its weekly upside for the second consecutive session so far, rebounding from yesterday’s sub-95.00 levels in spite of lower-than-expected prints in the US docket today.
In fact, Retail Sales for the month of August have expanded less than forecasted 0.2% MoM, while Industrial Production has contracted at a monthly pace of 0.4% vs. a 0.2% drop anticipated and Capacity Utilization eased to 77.6% from 78.0%.
Business Inventories is due next, with consensus seeing a 0.1% advance during July, down from June’s 0.8%.
US Dollar levels to consider
At the moment the index is up 0.07% at 95.31 and a breakout of 96.53 (high Sep.4) would expose 96.57 (high Aug.20) and then 97.07 (high Aug.19). On the flip side, the next support aligns at 93.72 (low Aug.26) ahead of 93.25 (low Aug.25) and finally 92.59 (low Aug.24).
The greenback, in terms of the US Dollar Index, is extending the bounce off session lows and is currently trading in the 95.30/35 band, close to daily peaks…
(Market News Provided by FXstreet)