Back
2 Apr 2013
Forex: US Dollar Index up above 83.00
FXstreet.com (Barcelona) - The US Dollar Index, which tracks the greenback against its major competitors, is advancing firmly on Tuesday, consolidating gains beyond the key resistance of 83.00.
Following the recent improvement of the US fundamentals, Strategist Jane Foley at Rabobank commented,” The associated logic is that this should support treasury yields and the USD… Fed Chairman Bernanke, however, has been reluctant to relinquish his dovish position in part because of the economic headwinds created by this year’s fiscal tightening… The markets will be kept guessing for some months as to how well the US economy is coping with the fiscal tightening and during this period there will likely be some mixed signals for the USD”.
At the moment, the index is up 0.20% at 83.06 and according to tradingcentral.com, the next resistance levels line up at 83.20, 83.35 and 83.55. Support levels are located at 82.55, 82.40 and 82.25.
Following the recent improvement of the US fundamentals, Strategist Jane Foley at Rabobank commented,” The associated logic is that this should support treasury yields and the USD… Fed Chairman Bernanke, however, has been reluctant to relinquish his dovish position in part because of the economic headwinds created by this year’s fiscal tightening… The markets will be kept guessing for some months as to how well the US economy is coping with the fiscal tightening and during this period there will likely be some mixed signals for the USD”.
At the moment, the index is up 0.20% at 83.06 and according to tradingcentral.com, the next resistance levels line up at 83.20, 83.35 and 83.55. Support levels are located at 82.55, 82.40 and 82.25.