US Dollar gains halted just below 92.00
- The index advanced to fresh tops in the boundaries of the 92.00 hadle.
- US 10-year yields remain depressed around 2.97%, close to session lows.
- Preliminary US Q1 GDP came in above estimates at 2.3%.
- Final U-Mich index came in at 98.8 for the current month.
The US Dollar Index (DXY), which gauges the greenback vs. a basket of its main competitors, has now retreated from daily tops near 92.00 the figure and is gyrating around 91.70.
US Dollar offered post-data
The upside momentum in the buck lost some traction in the vicinity of the 92.00 milestone today, where is located the key 200-day sma.
The greenback keeps the upbeat tone unchanged so far this week, advancing for the second week in a row and challenging the critical 92.00 handle, always against the backdrop of a better tone in the risk-associated complex as well as robust performance in US 10-year yields.
In addition, better-than-expected advanced GDP figures for the first quarter and higher Consumer Sentiment for the month of April are also collaborating with the upside.
Easing geopolitical effervescence and much alleviated concerns over a US-China trade war have prompted outflows from the Japanese safe haven currency to accelerate, bolstering the up move in USD/JPY beyond 109.00 the figure and thus adding to USD-buying.
US Dollar relevant levels
As of writing the index is up 0.26% at 91.82 and a break above 91.99 (200-day sma) would open the door to 92.52 (61.8% Fibo of 95.15-88.25) and finally 92.64 (high Jan.10). On the other hand, the next support emerges at 90.89 (38.2% Fibo of 95.15-88.25) followed by 90.52 (10-day sma) and then 89.95 (high Apr.20).