FXstreet.com (Edinburgh) - The greenback, in terms of the US Dollar index, has reverted the initial negative start and is now hovering over intraday tops near 80.70/75.
DXY boosted by US data
Better-than-expected data from the weekly reports on the US labour market, the Chicago PMI and the upbeat tone from the consumer sentiment gauged by the Reuters/Michigan index have boosted the index from lows near 80.50 to challenge intraday highs in the vicinity of 80.80. The index is thus paring Tuesday’s losses and struggling to revert the last two negative weekly closes.
DXY levels to watch
The index is now up 0.16% at 80.75 and a break above 81.48 (high Nov.8) would open the door to 81.50 (high Sep.16) and finally 82.50 (high Aug.2). On the flip side, the immediate support lines up at 80.53 (low Nov.20) ahead of 80.38 (low Nov.6) and then 80.00 (psychological level).
