US Dollar loses the grip, back to lows near 94.60

The greenback, tracked by the US Dollar Index, is now accelerating its decline to the area of daily lows around 94.60.

US Dollar attention to data, Jackson Hole

The index is eroding part of yesterday’s strong advance to the vicinity of 94.90, although the lack of follow through prompted sellers to step in and drive USD lower vs. its G10 peers.

The greenback will remain in centre stage ahead in the session, as the Jackson Hole Symposium is starting today, while releases in the US docket include Initial Claims, Markit’s Services PMI and Durable Goods Orders.

US Dollar relevant levels

The index is losing 0.15% at 94.64 and a breach of 94.46 (support trendline off 2016 low) would aim for 93.03 (low Jun.23) and then 91.88 (2016 low May 3). On the upside, the next resistance lines up at 94.94 (high Aug.22) ahead of 95.26 (20-day sma) and finally 96.50 (high Aug.5).