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23 May 2013
US Dollar Index bouncing off lows, around 83.75/80
FXstreet.com (Barcelona) - The greenback, in terms of the US Dollar index, is prolonging its intraday decline on Thursday, falling to the current 83.75/80 region after overnight highs around 84.60.
“A rallying USD is already proving the mirror to successful efforts to weaken currencies elsewhere. Our USD bullishness does not incorporate an early end to QE3,
but clearly such an outcome would give further upside to our revised USD profile”, commented David Bloom, Global Head of FX Strategy at HSBC.
As of writing, the index is down 0.82% at 83.76, and in the view of tradingcentral.com, a breach of 83.65 would expose 83.45 and then 83.30, while resistance levels align at 84.20, 84.35 and finally 84.50.
“A rallying USD is already proving the mirror to successful efforts to weaken currencies elsewhere. Our USD bullishness does not incorporate an early end to QE3,
but clearly such an outcome would give further upside to our revised USD profile”, commented David Bloom, Global Head of FX Strategy at HSBC.
As of writing, the index is down 0.82% at 83.76, and in the view of tradingcentral.com, a breach of 83.65 would expose 83.45 and then 83.30, while resistance levels align at 84.20, 84.35 and finally 84.50.