Thursday, October 1, 2015

US Dollar pushes higher, near 96.30

FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main competitors, remains on the right footing today, testing daily highs in the vicinity of 96.30.

US Dollar buoyed by data, flows

Month-end flows and a positive reading from US ADP report for the month of September (200K) are propping up today’s upbeat momentum in USD, all ahead Chairwoman J.Yellen’s speech due later after the NA close.

The index remains on track to recover further ground following last week’s troughs in the boundaries of the critical support at 95.00, sustained by somewhat hawkish comments from Fed officials and auspicious results in the domestic economy.

US Dollar levels to consider

At the moment the index is gaining 0.46% at 96.29 with the next hurdle at 96.70 (high Sep.25) followed by 97.07 (high Aug.19) en route to 97.33 (high Aug.12). On the flip side, a break below 94.06 (low Sep.18) would aim for 93.72 (low Aug.26) and finally 93.25 (low Aug.25).
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