US Dollar testing lows around 90.80 post-data

• The index receded from tops beyond the 91.00 handle.
• US 10-year yields moved above 3.0%, clinching 4-year tops.
• US Consumer Confidence came in above estimates.

The US Dollar Index (DXY), which tracks the buck vs. its main rivals, has now come under some pressure and receded from multi-week tops beyond 91.00 the figure.

US Dollar offered post-data

After advancing to new 3-month tops beyond the 91.00 milestone earlier in the session, the index lost some upside momentum and is now challenging the area of daily lows in the 90.90/85 band.

USD came under some pressure today despite yields of the key US 10-year note rose beyond the psychological 3.0% handle for the first time since 2014 and releases in the US docket all came in above initial estimates.

In fact, house prices tracked by the S&P-Case/Shiller index rose more than expected 6.8% on a year to February, while the more relevant Consumer Confidence gauged by the Conference Board ticked higher to 128.7 in April. In addition, New Home Sales expanded 4.0% inter-month in March, or up by 694K units.

US Dollar relevant levels

As of writing the index is losing 0.09% at 90.84 facing the next support at 90.72 (100-day sma) followed by 89.99 (10-day sma) and then 89.95 (high Apr.20). On the flip side, a break above 91.08 (high Apr.24) would open the door to 91.70 (50% Fibo of 95.15-88.25) and finally 92.04 (200-day sma).