20 Mar 2015
DXY keeps falling, 97.50 on sight
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback against a basket of its main rivals, is extending the intraday decline now, testing the mid-97.00s.
DXY down from 99.00
After reaching daily highs just above the 99.00 mark in early trade, the greenback slumped along with an increasing sentiment towards the riskier assets. Better news from Greece and the likeliness that the EU can unlock bailout funds oriented to repayments gave extra oxygen to the risk appetite in detriment of the US dollar.
The optimism in Euroland extended to the global markets, intensifying at the same time the offered tone in USD.
DXY levels to consider
The index is now losing 1.68% at 97.59 and a break below 96.41 (low Mar.18) would open the door to 96.30 (low Mar.6) and then 95.84 (low Mar.5). On the upside, the initial barrier lines up at 99.11 (high Mar.20) followed by 99.46 (high Mar.19) ahead of 99.79 (high Mar.18).
DXY down from 99.00
After reaching daily highs just above the 99.00 mark in early trade, the greenback slumped along with an increasing sentiment towards the riskier assets. Better news from Greece and the likeliness that the EU can unlock bailout funds oriented to repayments gave extra oxygen to the risk appetite in detriment of the US dollar.
The optimism in Euroland extended to the global markets, intensifying at the same time the offered tone in USD.
DXY levels to consider
The index is now losing 1.68% at 97.59 and a break below 96.41 (low Mar.18) would open the door to 96.30 (low Mar.6) and then 95.84 (low Mar.5). On the upside, the initial barrier lines up at 99.11 (high Mar.20) followed by 99.46 (high Mar.19) ahead of 99.79 (high Mar.18).