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US Dollar clings to 100.00

FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, is extending its upbeat tone on Wednesday, taking the index above the 100.00 mark so.

US Dollar off highs

The index has managed to climb to daily highs in the 100.30 area earlier in the session, levels last traded in April and March, although bulls still remain unable to break that barrier on a more sustainable basis.

Auspicious releases from today’s US docket have seen Initial Claims, Durable Goods Orders and Markit’s Services PMI all coming in above expectations. On the not so bright side, New Home Sales and the Consumer Sentiment gauge measured by the Reuters/Michigan index have missed prior estimates.

US Dollar significant levels

As of writing the US Dollar Index is up 0.39% at 100.08 with the next resistance at 100.29 (high Mar.15) followed by 100.38 (2015 high Mar.13). On the other hand, a breach of 98.50 (low Nov.12) would open the door to 96.84 (55-day sma) and finally 94.89 (3-month uptrend).

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