FXStreet (Edinburgh) – The greenback, in terms of the US Dollar Index, is trading on a firmer footing vs. its G10 peers on Tuesday, currently hovering over the 96.00 handle.
US Dollar bolstered by sentiment
The bid tone remains alive around USD during the first half of the week so far, now extending the correction lower initiated last Friday. The upside momentum has taken USD to briefly test levels just above the 96.00 handle, although the up move seems to have run out of impetus after the European open.
Ahead in the session, the Housing Price Index and the Richmond Fed Manufacturing index will see the light in the US docket, preceding another speech by Atlanta Fed President D.Lockhart.
US Dollar levels to consider
At the moment the index is up 0.05% at 95.95 and a breakout of 96.53 (high Sep.4) would target 97.07 (high Aug.19) en route to 97.33 (high Aug.12). On the downside, the immediate support aligns at 94.06 (low Sep.18) ahead of 93.72 (low Aug.26) and finally 93.25 (low Aug.25).
(Market News Provided by FXstreet)