US Dollar finds support around 96.00

The greenback, measured by the US Dollar Index, seems to have found some decent support in the 96.00 neighbourhood and is now reclaiming the 96.40 area.

US Dollar focus on FOMC speakers

The index has reversed yesterday’s strong gains to the 96.80 area in response to a renewed pick up in the risk-associated universe, although the down move failed to extend beyond the 96.00 key support.

Ahead in the session, speeches by FOMC’s Tarullo and Bullard (voters) are due later followed by JOLTs Job Openings. Previously, NFIB’s Small Business Optimism index has surpassed estimates for the month of June at 94.5.

US Dollar relevant levels

The index is losing 0.21% at 96.36 and a breakdown of 95.44 (20-day sma) would target 95.38 (low Jul.5) would target 95.23 (100-day sma) en route to 94.81 (55-day sma). On the other hand, the immediate hurdle aligns at 96.86 (high Jun.27) followed by 97.09 (high Mar.16) and finally 98.58 (high Mar.1).