FXStreet (Edinburgh) – The US Dollar Index, which tracks the greenback vs. its main rivals, is extending its upbeat tone at the end of the week, trading in the upper bound of the range near 94.60.
US Dollar unmoved by US releases
The greenback is now trimming part of the daily advance after US Industrial Production has matched forecasts during September, contracting at a monthly pace of 0.2%. In addition, Capacity Utilization has surprised to the upside at 77.5% vs. 77.4% expected.
The index is struggling to advance further in spite of yesterday’s strong gains after the US CPI came in on the stronger side for the month of September. A mix performance of US Treasuries today and the likeliness of a December’s lift-off losing traction keep weighing on the dollar and are somehow capping the upside.
US Dollar significant levels
As of writing the US Dollar Index is up 0.07% at 94.52 and a surpass of 94.77 (38.2% Fibo of 98.40-92.52) would aim for 95.46 (50% Fibo of 98.40-92.52) and then 95.84 (55-day sma). On the flip side, the immediate support aligns at 93.91 (223.6% Fibo of 98.40-92.52) ahead of 93.81 (uptrend from August low) and finally 92.52 (low post-PBoC move Aug.24).
(Market News Provided by FXstreet)