FXStreet (Edinburgh) – After hitting session tops in the 97.80 area, the USD Index is now giving away some gains and returning to the 97.60 zone.
USD Index firmer on data
The index has managed to revert the initial negative start following yesterday’s profit-taking session, not only recovering the positive territory but also climbing to daily tops in the upper 97.00s.
Collaborating with the upside, US Existing Home Sales have surpassed previous estimates during June, expanding at a monthly pace of 3.2% (vs. 1.2% forecasted), or 5.49 million units.
Ahead in the week, Initial Claims are due tomorrow ahead of Friday’s New Home Sales and Markit’s flash manufacturing PMI for the month of July.
USD Index relevant levels
As of writing the index is up 0.25% at 97.56 and a surpass of 98.46 (high Apr.21) would open the door to 99.36 (high Apr.15) and then 99.70 (high Apr.14). On the other hand, the immediate support aligns at 95.08 (low Jun.26) ahead of 94.86 (low Jun.30) and finally 94.72 (low Jun.29).
(Market News Provided by FXstreet)