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25 Feb 2015
DXY in red, above 94.00
FXStreet (Edinburgh) - After falling as low as 94.17, the greenback – in terms of the US Dollar Index – is now reclaiming some ground around the 94.30 area.
DXY weaker on Yellen
In spite of the re-emergence of the selling interest around the dollar, the index is managing well to keep the trade above the key 94.00 handle. Chairwoman J.Yellen’s second testimony today remained tilted to the dovish side, supporting the offered sentiment in USD.
Data wise in the US economy, New Home Sales came in better than expectations in January advancing at a seasonally adjusted annual rate of 481K vs. 470K estimated albeit a tad lower than the 482K previous.
DXY levels to consider
The index is now losing 0.26% at 94.27. The immediate support lines up at 93.90 (low Feb.19) followed by 93.87 (low Feb.17) and finally 93.39 (low Feb.3). On the flip side, a breakout of 95.09 (high Feb.24) would open the door to 95.10 (high Feb.12) and then 95.23 (high Feb.11).
DXY weaker on Yellen
In spite of the re-emergence of the selling interest around the dollar, the index is managing well to keep the trade above the key 94.00 handle. Chairwoman J.Yellen’s second testimony today remained tilted to the dovish side, supporting the offered sentiment in USD.
Data wise in the US economy, New Home Sales came in better than expectations in January advancing at a seasonally adjusted annual rate of 481K vs. 470K estimated albeit a tad lower than the 482K previous.
DXY levels to consider
The index is now losing 0.26% at 94.27. The immediate support lines up at 93.90 (low Feb.19) followed by 93.87 (low Feb.17) and finally 93.39 (low Feb.3). On the flip side, a breakout of 95.09 (high Feb.24) would open the door to 95.10 (high Feb.12) and then 95.23 (high Feb.11).