OctaFX | OctaFX Forex Broker
Open trading account

US Dollar recovers the smile above 95.00

  • USD reverts Monday’s pullback, back near 95.00.
  • US 10-year yields bounces off lows near 2.31%.
  • Yellen and second-tier data due later today.

The greenback, tracked by the US Dollar Index (DXY), is posting moderate gains on Monday and is currently advancing beyond the critical barrier at 95.00 the figure.

US Dollar looks to Yellen

The index managed to revert yesterday’s pullback after finding dip-buyers in the 94.70 area, coincident at the same time with the 10-day sma.

The current up move has been in tandem with a rebound in yields of the key US 10-year reference, coming up after testing lows in the sub-2.31% zone on Monday.

Despite the ongoing up move, the buck should stay vigilant on the headlines coming from the US political scenario, particularly those regarding the Trump’s tax reform proposal, which is now facing some internal conflicts among Republicans and faces strong opposition from Democrats.

Looking ahead, the IBD/TIPP index is next on tap followed by JOLTs job openings and the speech by Chairwoman J.Yellen.

US Dollar relevant levels

As of writing the index is up 0.35% at 95.07 and a breakout of 95.15 (high Oct.27) would open the door to 95.90 (38.2% Fibo of the 2017 drop) and then 96.68 (200-day sma). On the downside, the immediate support aligns at 94.65 (10-day sma) seconded by 94.42 (low Nov.2) and finally 94.03 (23.6% Fibo of the 2017 drop).

France Budget up to €-76.3B in September from previous €-93B

France Budget up to €-76.3B in September from previous €-93B
Read more Previous

GBP/USD corrects to 1.3140 amid notable USD demand

The GBP/USD pair failed to sustain the recovery mode near 1.3160 levels, sending the rates back to test the 100-DMA support of 1.3141, as the US dolla
Read more Next
Start livechat