FXStreet (Edinburgh) – The greenback, in terms of the US Dollar Index, is trading on a firmer footing today around 96.30/25, closer to daily tops.
US Dollar looking for direction ahead of FOMC
The better sentiment towards the risk appetite has kicked in today in the Asian session and has spread into the European trading hours, with the greenback picking up pace and regaining the 96.30/40 area supported by US Treasuries.
On the data front, Mortgage Application tracked by MBA contracted 6.2% on the week ended on September 4, while JOLTS Jobs Openings surpassed estimates advancing 5.753 million during July vs. 5.288 million initially expected.
US Dollar levels to consider
At the moment the index is up 0.29% at 96.25 and a breakout of 96.53 (high Sep.4) would pave the way to 96.57 (high Aug.20) and then 97.07 (high Aug.19). On the downside, the next support aligns at 95.19 (low Sep.1) ahead of 94.99 (low Aug.24) and finally 93.92 (low Aug.26).
(Market News Provided by FXstreet)