US Dollar recovery loses before the 97 dynamics

FXStreet – the lowest level since the US election on may 11. November 96,70 was formed, started the US Dollar Index, a recovery of its losses, but the momentum was lost even before the 97. Currently, the Index traded with a loss of 0.12% 96,88.

Although there was no new impulse for the USD sell-off, investors are hesitant to increase their USD Long positions, before the former FBI Director Comey on Wednesday held its hearing, which may exacerbate political tensions in the United States.

USA: Chicago Fed National activity index shows improvement in economic growth in April

The recent comments from Dallas Fed Kaplan say that he holds 3 interest rate increases in 2017 is appropriate and in the assessment of the inflation data, prudence is required, which gave the Greenback some support.

Fed Kaplan: 3 interest rate increase in year 2017, is appropriate

Technical Prospects

Over 97 (psych. Level), next Resistances at 97,35 (daily high) and 98 (18. May High / psych. Level). On the other hand, supports are located at 96,70 (daily low), 95,90 (Deep 11. Nov.) and 95, (psych. Level).

** FXStreet News Editorial, FXStreet**

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