Latest Posts

Featured Image

US Dollar Recovery Struggling Around 96.30

Team FX Trading Revolution | Aug 20, 2018

Featured Image

Weekly EURUSD, GBPUSD, USDJPY Analysis August 20 - August 24, 2018

Team FX Trading Revolution | Aug 20, 2018

Featured Image

USD/CAD Supported at 1.3050 as USD Strengthens

Team FX Trading Revolution | Aug 20, 2018

Featured Image

NZD/USD Rally May Run Out of Steam

Team FX Trading Revolution | Aug 20, 2018

Featured Image

AUD/USD Capped by 55 SMA

Team FX Trading Revolution | Aug 20, 2018

Featured Image

GBP/USD Bears to Cap at 1.2750

Team FX Trading Revolution | Aug 20, 2018

Featured Image

NABE: Trump's Tariff to Leave Negative Impact on US Economy

Team FX Trading Revolution | Aug 20, 2018

Featured Image

USD/JPY Bulls Look Exhausted

Team FX Trading Revolution | Aug 20, 2018

Featured Image

Gold Shows Signs of Life

Team FX Trading Revolution | Aug 20, 2018

Featured Image

Fx Options Expiries on 20th August

Team FX Trading Revolution | Aug 20, 2018

US Dollar Index Rallies around the 93.60 mark

05/16/2018
at 2:34 PM

The US dollar Index rallied around the 93.60 region following better US yields in the past few days. The Index rallied to as high as 93.60 before losing momentum and dropping slightly down to 93.34 by 10:11 am EDT on Wednesday morning.

US housing sector data which was just released show mixed results with building permits at 1.8% (contracting less than projected) and housing starts decreasing by 3.7% month-over-month. On the other hand, both Industrial Production and Manufacturing Production increased 0.7% and 0.5% month-over-month respectively.

By 10:10 am EDT, the EURUSD currency pair traded at 1.1812, following a daily low and a daily high of 1.1764 and 1.1854 respectively. Strong areas of support exist around 1.1764, 1.1718 and 1.1553. On the other hand, strong resistance exists at 1.1898, 1.1996 and 1.2021.

The US Dollar also strengthened against the British Pound Sterling, with the pair trading at 1.3502 by 10:10 am EDT. The pair moved through a daily low and a daily high of 1.3456 and 1.3520 respectively.

The USDCAD pair traded at 1.2793 by 10:10 am EDT, with a daily low and high of 1.2793 and 1.2876 respectively. This represented a 0.61% drop since the previous close.