existing home sales helped the greenback get up from the lows. Existing home sales
data rose 5.1% to a seasonally adjusted annually rate of 5.35million. The USDX
headed towards higher lows and higher highs. At the Asian session, the index
hit a higher high facing strong resistance at 94.65 h1200hrsma and 50hrsma in
the four-hour chart. In case bulls take it off, they will aim for 94.75 and
95.10. Whereas, 94.75 is the another crucial resistance.
Ahead of today's US data release, the greenback is showing strength during the Asian session.
Core durable good orders, flash manufacturing PMI, and new home sales data is due
today. We expect another positive
readings for durable good orders. At today's Asian session, the USDX is showing tremendous
strength pushing down other currencies on its way. The kiwi is trading at a 5-year low.
The material has been provided by InstaForex Company – www.instaforex.com