FXStreet (Edinburgh) – The USD Index, which gauges the greenback vs. its main rivals is prolonging the rebound from lows in sub-97.00 levels to the current 97.25/30 band.
USD Index supported at 96.90
The risk-on environment remains intact today, fuelled by the positive vote from the Greek parliament early in the Asian trading hours. In the meantime, the USD is trading on the back footing, as market participants continue to cash up recent strong gains ahead of the FOMC meeting due next week.
Positive results from the US labour market and the Leading Index tracked by CB gave some respite to the dollar, although not enough to sent it back to the gains territory.
USD Index relevant levels
As of writing the index is losing 0.33% at 97.28 with the next support at 96.89 (low Jul.23) followed by 95.08 (low Jun.26) and then 94.86 (low Jun.30). On the other hand, a break above 97.51 (high Jul.23) would open the door to 98.46 (high Apr.21) and finally 99.36 (high Apr.15).
(Market News Provided by FXstreet)