U.S Dollar Index: Bearish, Eyes 94.30 Levels!
As long as 95.10 resistance holds on a daily closing basis, the U.S dollar index remains on the downside to 94.30 levels, a halt is likely, it may turn higher from here if seen it will aim the 94.65 level, above that level will test 95.10 level (main) where rejection is expected. However; below 94.30 – not easy – will look for 93.78 levels, further down, support comes at 93.35 levels.
On the upside, resistance comes at 95.10 level, a daily closing back above 95.10 level will challenge 95.82 levels, above that level will extend the bullish move to 96.48 levels, further upside will aim 97.12 levels.
The U.S.D may dip to 94.30 before a strong reverse to the upside. A daily closing above 95.10 will bring a strong bullish move to the upside…
Conclusion: The U.S. dollar index sees downside threats below 95.10 levels.
Support: 94.63, 94.30, 93.78, 93.35
Resistance: 95.10, 95.80, 97.12, 97.72
Critical levels that need to be watched during the NEWS carefully: 94.30, 95.10
In the week ahead, investors will be looking for the release of the Federal Reserve’s latest meeting minutes scheduled for Wednesday for further indications of a Fed rate hike at the end of the year.
This is a list of important events that are likely to affect the market:
Monday, October 15
The U.S will release data on retail sales.
New Zealand will release data on consumer price inflation.
Tuesday, October 16
The Reserve Bank of Australia will publish the minutes of its latest monetary policy meeting.
The UK will release its latest employment report.
Germany will report on its ZEW Economic Sentiment.
Wednesday, October 17
The UK will report on consumer inflation.
The U.S will report on building permits.
The Federal Reserve will release minutes of its most recent policy meeting.
Thursday, October 18
Australia will report on Employment Change.
Bank of Japan Governor Haruhiko Kuroda will speak at an event in Tokyo.
The UK will release data on retail sales.
EU Leaders Summit: The UK may reach a deal with the EU on Brexit.
The U.S will report on the Philadelphia Fed Manufacturing Index.
Friday, October 19
China will release data on third-quarter growth as well as figures on fixed asset investment.
Canada will release data on retail sales and inflation.
The U.S will report on existing home sales.
Bank of England Governor Mark Carney will speak at an event in New York.
You can follow the rest of the week’s economic events by visiting: