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17 Apr 2013
Forex: US Dollar Index in session highs
FXstreet.com (Barcelona) - The greenback, measured by the US Dollar Index, is posting fresh highs in the area of 82.70/75 on Wednesday, as jitters on growth spooked investors. Later on, Buba’s Weidmann was fanning the flames on a probable rate cut by the ECB, adding to the upside.
“The US Dollar is the top performer in the overnight session as it appears that confidence among investors seeking high beta currencies and risk-correlated assets is starting to wane. With no major data due out overnight, there’s a bit more credence to the breakdown in risk appetite occurring (this being an organic sell-off driven by sentiment rather than spurred by a miss in major data)”, explained Christopher Vecchio, Currency Analyst at DailyFX.
At the moment, the index is up 1.07% en 82.70 and according to tradingcentral.com, the next resistance levels line up at 82.95, 83.05 and 83.15; support levels align at 81.90, 81.75 and 81.55.
“The US Dollar is the top performer in the overnight session as it appears that confidence among investors seeking high beta currencies and risk-correlated assets is starting to wane. With no major data due out overnight, there’s a bit more credence to the breakdown in risk appetite occurring (this being an organic sell-off driven by sentiment rather than spurred by a miss in major data)”, explained Christopher Vecchio, Currency Analyst at DailyFX.
At the moment, the index is up 1.07% en 82.70 and according to tradingcentral.com, the next resistance levels line up at 82.95, 83.05 and 83.15; support levels align at 81.90, 81.75 and 81.55.