US Dollar Tumble | Currency Market News
The greenback, followed by the US dollar tumble has been under renewed selling pressure on Monday, falling to session lows near 95.10.
USD Focus on Fedspeak
The index has rapidly eroded Friday decent profit and has refocused on the lower range of about 95.00 handle as the risk-on trade has reversed its initial negative sentiment.
According to the latest report from the CFTC, speculative net long USD have fallen to the lowest level since July 12 during the week ended September 20, before the FOMC meeting key.
Later in the NA session, New Home Sales and manufacturing gauge the Dallas Fed should, while interventions N.Kashkari (2017 voters, neutral?), D.Tarullo (voters, pessimistic) and R.Kaplan (2017 voters, neutral?) keep the attention on the dollar.
USD relevant levels
The index is losing 0.24% at 95.28 and a break below 94.84 (support line off 2016 low) would open the door to 94.46 (low Sep.8) and finally 94.07 (low Aug.18). On the upside, the next hurdle aligns at 96.05 (200-day sma) ahead of 96.33 (spike post-BoJ Sep.21) and finally for 96.52 (high Aug.5).