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14 May 2013
Forex: US Dollar Index in highs around 83.70
FXstreet.com (Barcelona) - The greenback, measured by the US Dollar Index, keeps pushing higher on Tuesday, navigating session highs in the vicinity of 83.70.
Against the backdrop of the recent ISD rally, Stephen Gallo, Analyst at BMO, commented, “We foresee at least two powerful factors acting in favour of the USD over the short-run: improving spreads vis-à-vis the rest of the world and reasonably light US capital outflows relative to the middle of the last decade”.
At the moment, the index is up 0.34% at 83.64 and according to tradincentral.com, the next resistance levels line up at 83.70 and 84.00; while support levels align at 82.85, 82.65 and 82.40.
Against the backdrop of the recent ISD rally, Stephen Gallo, Analyst at BMO, commented, “We foresee at least two powerful factors acting in favour of the USD over the short-run: improving spreads vis-à-vis the rest of the world and reasonably light US capital outflows relative to the middle of the last decade”.
At the moment, the index is up 0.34% at 83.64 and according to tradincentral.com, the next resistance levels line up at 83.70 and 84.00; while support levels align at 82.85, 82.65 and 82.40.