FXStreet (Edinburgh) – The greenback, in terms of the US Dollar Index, has surrendered initial gains and is now trading in the red territory in the 96.10/00 band.
DXY testing 96.00
The risk appetite trends have reverted the negative start today, now dragging the index to test the lower bound of the daily range near the critical 96.00 handle. Data in the US economy came in mixed, failing to give extra support to the USD upside.
The dollar has been trading with a positive tone since the Asian opening today, bolstered by the unexpected ‘No’ win in the Greek referendum on Sunday. However, as the dust has started to settle, the riskier assets have managed to reclaim the ground lost and send the dollar lower.
DXY relevant levels
As of writing the index is losing 0.04% at 96.07 and a breach of 94.30 (low Jun.23) would aim for 93.81 (low Jun.22) and finally 93.57 (low Jun.18). On the upside, the next hurdle lines up at 96.63 (high Jul. 6) ahead of 96.91 (high Jun.5) and finally 97.34 (high Jun.5).
(Market News Provided by FXstreet)