Back
18 Apr 2013
Forex: US Dollar Index found support at 82.50
FXstreet.com (Barcelona) - The greenback, measured by the US Dollar Index, is markedly lower on Thursday, bouncing off session lows around 82.50 as risk appetite prevailed amongst traders.
In the wake of the Fed’s Beige Book released yesterday, David Song, Currency Analyst at DailyFX, commented, “The Fed’s Beige Book failed to prop up the U.S. dollar as the survey continued to point to subdued inflation, and the FOMC may retain its highly accommodative policy stance throughout 2013 as wage pressures remain contained… In turn, the shift in the policy outlook should prop up the U.S. dollar over the near to medium-term, and we may see the FOMC start to discuss a tentative exit strategy in the second-half of the year as growth prospects improve”.
At the moment, the index is down 0.30% at 82.54 and according to tradingcentral.com, the next resistance levels align at 82.70, 82.80 and 83.00; support levels line up at 82.30, 82.15 and 82.05.
In the wake of the Fed’s Beige Book released yesterday, David Song, Currency Analyst at DailyFX, commented, “The Fed’s Beige Book failed to prop up the U.S. dollar as the survey continued to point to subdued inflation, and the FOMC may retain its highly accommodative policy stance throughout 2013 as wage pressures remain contained… In turn, the shift in the policy outlook should prop up the U.S. dollar over the near to medium-term, and we may see the FOMC start to discuss a tentative exit strategy in the second-half of the year as growth prospects improve”.
At the moment, the index is down 0.30% at 82.54 and according to tradingcentral.com, the next resistance levels align at 82.70, 82.80 and 83.00; support levels line up at 82.30, 82.15 and 82.05.