US Dollar stuck around 94.60, focus on Yellen

The US Dollar Index, which measures the buck vs. its main competitors, remains in the negative ground today, trading within a tight range around 94.60.

US Dollar unmoved after data

The index remained apathetic following today’s mixed results from the US docket, where Initial Claims and July’s Durable Goods Orders have surprised markets to the upside, while the advance Services PMI tracked by Markit has missed expectations for the current month.

In the meantime, USD is struggling to revert two consecutive weekly pullbacks after being rejected from the mid-96.00s earlier in the month. Looking ahead, the Dollar will remain in centre stage in light of Yellen’s speech at Jackson Hole and US Q2 GDP figures, all due tomorrow.

US Dollar relevant levels

The index is losing 0.14% at 94.66 and a breach of 94.46 (support trendline off 2016 low) would aim for 93.03 (low Jun.23) and then 91.88 (2016 low May 3). On the upside, the next resistance lines up at 94.94 (high Aug.22) ahead of 95.26 (20-day sma) and finally 96.50 (high Aug.5).