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US Dollar slightly lower near 95.30 Pablo Piovano

12:00 23 May /2016 Forex

The greenback, tracked by the US Dollar Index, has recovered part of the ground lost in early trade and retaken the 95.30 area.

US Dollar focus on Fedspeak

The rally of the dollar appears interrupted at the beginning of the week, although the index has been trimming losses since overnight troughs in the 95.10 area.

Anyway, USD remains in the upper end of the recent range beyond the 95.00 handle, advancing almost uninterruptedly since multi-month lows in the 91.90 area seen in early May.

Nothing expected data wise in the US economy today, although speeches by FOMC’s Bullard (voter) and Williams (non-voter) will take centre stage later along with further Fed speakers throughout the week, including Chair J.Yellen on Friday.

US Dollar relevant levels

The index is losing 0.03% at 95.30 and a breakdown of 94.84 (55-day sma) would expose 94.15 (20-day sma) and finally 93.65 (low May 11). On the other hand, the initial up barrier aligns at 95.51 (high May 19) ahead of 96.27 (100-day sma) and then 96.42 (high Mar.28).

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