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US Dollar Index keeps the positive below 84.00

FXstreet.com (Barcelona) - The greenback, in terms of the US Dollar Index, is posting meagre gains on Tuesday, trading in the lower end of the range after breaching the key 84.00 handle.

In the view of Strategists G.Moore and S.Osborne at TD Securities, “Overall, we still rather look for the USD to appreciate near-to-medium term, to reflect US economic growth trends (stronger, relative to Europe and Japan) and the likelihood that the Fed will start to taper asset purchases later this year. In this vein, all eyes will be on Fed Chairman Bernanke’s Joint Economic Committee testimony before congress tomorrow (as well as the May 1 FOMC minutes, also released tomorrow)”.

At the moment the index is up 0.13% at 83.95 and according to tradingcentral.com the next resistance levels align at 84.00, 84.35 and 84.50 while supports are located at 83.55, 83.30 and 82.95.

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