Back
19 Apr 2013
Forex: US Dollar Index up around 82.80/85
FXstreet.com (Barcelona) - The greenback, gauged by the US Dollar Index, is reverting a negative start and printing fresh session highs in the area of 82.80/85 on Friday, with the risk aversion bolstering the correction higher.
“It seems likely that after healthy growth in Q1 that the US economy is currently expanding at a much more subdued pace. This may be in part the result of fiscal tightening… The risk that the US may be entering a period of slower growth suggests that the market may have priced too much good news into the USD at the start of the year”, explained Jane Foley, Strategist at Rabobank.
At the moment, the index is up 0.21% at 82.85 and according to tradingcentral.com, the next resistance levels line up at 82.85 and 83.00 while support levels are located at 82.35, 82.10 and 81.90.
“It seems likely that after healthy growth in Q1 that the US economy is currently expanding at a much more subdued pace. This may be in part the result of fiscal tightening… The risk that the US may be entering a period of slower growth suggests that the market may have priced too much good news into the USD at the start of the year”, explained Jane Foley, Strategist at Rabobank.
At the moment, the index is up 0.21% at 82.85 and according to tradingcentral.com, the next resistance levels line up at 82.85 and 83.00 while support levels are located at 82.35, 82.10 and 81.90.