10 May 2013
Forex: US Dollar Index extends its correction
FXstreet.com (Barcelona) - After hitting fresh 5 –week highs around 83.50 on Friday, the US Dollar Index – which tracks the greenback vs. its major competitors – has initiated a correction lower to the current region of 83.20/25, giving some oxygen to the risk-associated assets and high-beta currencies at the same time.
The spark in the USD came after the better-than-expected jobs data on Thursday, with Initial Claims posting a 5-year low falling to 323K in the week ended don May 3.
As of writing, the index is advancing 0.38% at 83.18 and according to tradingcentral.com, the next resistance levels line up at 83.40 and 83.50 while support barriers are located at 82.40, 82.25 and 82.10.
The spark in the USD came after the better-than-expected jobs data on Thursday, with Initial Claims posting a 5-year low falling to 323K in the week ended don May 3.
As of writing, the index is advancing 0.38% at 83.18 and according to tradingcentral.com, the next resistance levels line up at 83.40 and 83.50 while support barriers are located at 82.40, 82.25 and 82.10.