FXStreet (Edinburgh) – The US Dollar Index, which gauges the greenback vs. its main rivals, has managed to retake the 97.00 handle after an ephemeral test of the 96.90 area.
DXY lower on profit taking
Very auspicious releases in the US docket on Tuesday gave extra legs to the USD rally, although the upside appears to be capped around overnight tops near 97.40 so far.
A profit taking session seems to be undergoing today, hurting the greenback and prompting sellers to drag the index to the 97.00/96.90 band. There will be no releases in the US economy, turning the attention to the debt talks between the Brussels Group and Greece, ahead of Thursday’s US Initial Claims and the speech by Minneapolis Fed N.Kocherlakota.
DXY relevant levels
The index is now losing 0.28% at 97.02 facing the immediate support at 96.89 (low May 26) ahead of 94.82 (low May 22) and then 94.08 (low May 19). On the upside, a surpass of 97.38 (high May 27) would open the door to 97.55 (high Apr.24) and then 98.41 (high Apr.23).
(Market News Provided by FXstreet)