FXStreet (Edinburgh) – The greenback, tracked by the US Dollar Index, has reverted the initial negative tone and is now posting marginal gains around 94.60.
US Dollar focus on US data
The greenback is now advancing for the second consecutive session so far, recovering further ground after Tuesday’s sharp pullback to the mid-93.00s.
The dollar will remain under pressure however ahead of the US data releases due later today, with July’s Durable Goods Orders preceding the speech by Fed’s W. Dudley.
US Dollar relevant levels
As of writing the index is up 0.04% at 94.56 facing the immediate resistance at 94.68 (high Aug.25) ahead of 94.96 (high Aug.24) and finally 95.81 (high Aug.21). On the downside, a breach of 93.87 (low Aug.26) would open the door to 92.59 (low Aug.24) and finally 92.20 (low Jan.21).
(Market News Provided by FXstreet)