US dollar back below 96.00

FXStreet (Edinburgh) – The greenback has managed to recover from session lows near 95.60 on Monday, currently hovering over the 96.00 neighbourhood.

US Dollar lower on risk appetite

After last week’s significant recovery, USD is now surrendering part of those gains and testing sub-96.00 levels ahead of a key week in the US data space.

The dollar has managed to revert the recent sharp pullback after selling interest dragged the index to as low as the mid-92.00s, in response to a hawkish tone from several Fed officials and renewed expectations on a potential Fed’s lift-off in September.

US Dollar levels to consider

At the moment the index is losing 0.20% at 95.91and a breach of 95.32 (low Aug.28) would aim for 94.99 (low Aug.24) and finally 93.92 (low Aug.26). On the flip side, the next hurdle lines up at 96.32 (high Aug.28) followed by 96.57 (high Aug.20) and then 97.07 (high Aug.19).

The greenback has managed to recover from session lows near 95.60 on Monday, currently hovering over the 96.00 neighbourhood…

(Market News Provided by FXstreet)