- The DXY has fallen back near the 96.00 level on the back of the latest US data, cutting back on initial gains.
- The latest ISM manufacturing PMI report fell to 58.7 in December from 61.1 driven by a drop in prices paid.
The DXY has plunged into negative territory on the day in recent trading and is testing the 96.00 level in the wake of the latest batch of US data.The index, which is a trade-weighted basket of the major currency pairs of the USD is now trading roughly 0.15% lower on the day and is roughly 0.4% lower from its previous highs near 96.50.
Its latest slide sent it south of its 21-day moving average, which is currently around the 96.20 level and the bears will be looking at a test of last week’s lows at 95.50 in case the level breaks. from 96.00. Notable support in the form of the 50 DMA at 95.65, a level that has been associated with good buying interest in the past.
Technical levels
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