The greenback slips a little across the board
It's been a tough last two sessions for the greenback, particularly after Trump's comments here yesterday. The dollar index reached year's highs prior to US trading but failed to hold any sustained break above and it's been a quick trip lower - accelerated by Trump.
The index touched a high of 95.65 before falling to just under 95.00 where it found support in the 50.0 retracement level @ 94.97. That will be the next key area for the dollar again now, with the 100-hour MA (red line) nearby @ 94.92.
For buyers, the same levels in yesterday's trading still applies. There is a need to hold a move above the 95.15 level with a daily close above the 95.53 level needed to extend the rally further.
For sellers, move below the 100-hour MA will be a good first step to break the near-term bias that is still favouring buyers for now. A further move below the 200-hour MA (blue line) will re-establish a near-term bearish bias so that ultimately will be the level sellers will want to break below.
