FXStreet (Edinburgh) – The greenback, in terms of the USD Index, is giving away initial gains and is returning to the 96.70/65 band.
USD Index capped around 97.00
The daily upside in the index has lost momentum in levels just shy of the 97.00 mark during the European morning, deflating since then although still in the positive camp.
Mixed results from the US docket today saw Markit’s Services PMI coming in above expectations for the current month, while Consumer Confidence and the S&P/Case-Shiller index both have disappointed investors.
USD Index relevant levels
As of writing the index is advancing 0.19% at 96.68 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)