FXStreet (Edinburgh) – The greenback, measured by the US Dollar Index, is trading on a firm footing on Thursday, currently testing the 99.90 area.
US Dollar capped by 100.00
In spite of the strong advance as of late, a more sustainable break above the psychological 100.00 handle still remains elusive for USD bulls, who might try to attempt a consolidation ahead of the critical FOMC meeting in mid-December.
The index has been propped up by firmer expectations of a December lift-off (nearly 80% today), some recent supportive results in the US docket and further easing prospects from other central banks overseas.
US Dollar significant levels
As of writing the US Dollar Index is up 0.04% at 99.87 with the next resistance at 100.29 (high Mar.15) followed by 100.38 (2015 high Mar.13). On the other hand, a breach of 98.50 (low Nov.12) would open the door to 96.92 (55-day sma) and finally 94.84 (3-month uptrend).
(Market News Provided by FXstreet)