DXY flirting with 98.00

FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, has reverted the promising start and is now returning to the 98.00 neighbourhood.

DXY hurt by data

After hitting session highs around 98.60 overnight, positive releases in the euro area started to weigh on the index, pushing the dollar lower in favour of a rising risk appetite.

The index saw its gains trimmed after the US private sector added 189K jobs during March according to the ADP report, missing estimates for 225K and down from February’s 214K. In the same direction, the ISM Manufacturing disappointed investors during the same period, coming in at 51.5 vs. 52.9 previous.

DXY levels to consider

The index is now losing 0.31% at 98.05 with the initial support at 96.99 (low Mar.27) ahead of 96.17 (low Mar.26) and finally 95.84 (low Mar.5). On the upside, a surpass of 98.64 (high Apr.1) would open the door to 99.11 (high Mar.20) and then 99.46 (high Mar.19).