US Dollar Clinches Daily Tops Near 93.40
The greenback, tracked by the US Dollar Index, is prolonging its weekly upside and testing session tops near 93.40.
US Dollar boosted by data
It
was all the way up for USD after hitting multi-month lows near 91.90 on
Tuesday, managing to regain both the 92.00 and 93.00 marks on better
sentiment and positive results from the US docket.
In fact,
today’s ISM Non-manufacturing, Makit’s Services PMI and Trade Balance
have all surpassed expectations, while on the not-so-bright note, the
ADP Employment Change showed the US private sector has created less jobs
than expected during April, although the greenback quickly shrugged off
the results.
US Dollar relevant levels
The
index is advancing 0.38% at 93.30 and a breakout of 94.14 (20-day sma)
would aim for 95.18 (high Apr.22) and then 95.55 (55-day sma). On the
flip side, the next support aligns at 91.89 (2016 low May 3) followed by
91.50 (low Jan.15 2015) and finally 87.23 (low Nov.17 2014).
