US dollar recovers after yesterday’s slide

The Greenback, measured by the US dollar index, rose on Tuesday and recovered from Monday’s losses and continues to trade near 13-year highs. The DXY peaked during the American session at 101.32 and then pulled back finding support at 100.90. It was about to end the day hovering around 101.05/10, up 0.25% for the day.  

The bond market remained steady during the day with US yields moving around yesterday’s closing price and near multi-month highs. In Wall Street the Dow Jones is at 19,000, headed toward another record close, up 0.30%. 

US data today, showed a bigger-than-expected gain in existing home sales (2.0% vs -0.5%). Tomorrow will be the turn of the October durable goods order report and the Federal Reserve will release the minutes from its latest FOMC meeting. 

DXY Technical levels 

To the upside, resistance could be seen at 101.30 (Nov 22 high), 101.50 (Nov 18 high) and 102.00 (psychological). On the opposite direction support levels might be seen at 100.55 (Nov 16 high), 99.85 (Nov 16 low) and 99.40 (Nov 15 low).

To learn more about this topic, check our video analysis.

DXY from Tip TV Productions on Vimeo.