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27 Mar 2015
DXY bounces off 97.20
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback against a basket of its main rivals, has left session lows and is now gyrating around 97.30.
DXY softer post-US GDP
The dollar recovery reached the boundaries of the key barrier at 98.00 on Friday, although less auspicious results from the US GDP during Q4 triggered the current leg lower towards 97.20.
The dollar will remain in centre stage nonetheless, as the sentiment index by Reuters/Michigan and Chairwoman’s Yellen speech are both due later.
DXY levels to consider
The index is now advancing 0.01% at 97.44 with the next hurdle at 97.92 (high Mar.27) ahead of 98.23 (high Mar.23) and then 99.11 (high Mar.20). On the flip side, a breakdown of 96.17 (low Mar.26) would open the door to 95.84 (low Mar.5) and finally 95.34 (low Mar.4).
DXY softer post-US GDP
The dollar recovery reached the boundaries of the key barrier at 98.00 on Friday, although less auspicious results from the US GDP during Q4 triggered the current leg lower towards 97.20.
The dollar will remain in centre stage nonetheless, as the sentiment index by Reuters/Michigan and Chairwoman’s Yellen speech are both due later.
DXY levels to consider
The index is now advancing 0.01% at 97.44 with the next hurdle at 97.92 (high Mar.27) ahead of 98.23 (high Mar.23) and then 99.11 (high Mar.20). On the flip side, a breakdown of 96.17 (low Mar.26) would open the door to 95.84 (low Mar.5) and finally 95.34 (low Mar.4).