DXY slumps to lows near 95.00

FXStreet (Edinburgh) – The greenback, tracked by the US Dollar Index, has not only faded the positive start but it has also turned negative and is now flirting with session lows near 95.00.

DXY down from 96.40

After the opening gap to multi-week peaks around 96.40, the dollar sparked a correction lower to the vicinity of the 95.00 mark so far, as market participants have managed to leave behind the negative sentiment post-Greece.

Data wise in the US economy, Pending Home Sales rose 0.9% from April to May, missing expectations for a 1.2% advance. Further data saw the Dallas Fed manufacturing Business index bettering to -7.0 for the current month vs. -20.8 previous.

DXY relevant levels

As of writing the index is losing 0.33% at 95.15 and a break below 94.30 (low Jun.23) would open the door to 93.81 (low Jun.22) and then 93.57 (low Jun.18). On the flip side, the initial hurdle aligns at 96.39 (high Jun. 29) ahead of 96.54 (high Jun.8) and finally 96.91 (high Jun.5).

The greenback, tracked by the US Dollar Index, has not only faded the positive start but it has also turned negative and is now flirting with session lows near 95.00…

(Market News Provided by FXstreet)