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US Dollar losses momentum, drops to 95.60

FXStreet (Edinburgh) - A bout of selling interest is now hurting USD, dropping to session lows in the area of 95.60 in terms of the US Dollar Index.

US Dollar weaker on US data

The greenback has given away initial gains vs. its main competitors on Tuesday, trading on a softer tone in response to a better sentiment around the risk-appetite. In addition, the US trade deficit has widened more than expected during August, reaching $48.33 billion vs. $41.81 recorded in the previous month.

Next on tap in the US docket will be the speech by FOMC’s J.Williams followed by the weekly report on crude oil stockpiles by the API.

US Dollar levels to consider

At the moment the index is losing 0.45% at 95.66 with the next support at 94.06 (low Sep.18) ahead of 93.72 (low Aug.26) and finally 93.25 (low Aug.25). On the other hand, a break above 96.49 (high Oct.1) would open the door to 96.70 (high Sep.25) and then 97.07 (high Aug.19).

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