US Dollar up smalls around 99.00

The greenback, when measured by the US Dollar Index, is posting marginal gains on Tuesday, currently gyrating around the 99.0 handle.

US Dollar clings to 99.00

The index is navigating the area of recent lows recorded post-Macron win at the French elections on Sunday, always amidst a generalized risk-on sentiment although trading somewhat firmer so far today.

The area remains critical for DXY, as both the key 200-day sma and the 11-month support line are located around current levels.

In the US data space, house prices tracked by the S&P/Case-Shiller index are due along with New Home Sales and the key Consumer Confidence gauges by the Conference Board.

It is worth mentioning that USD stays under pressure from the speculative community, as net longs have retreated to 2-week lows in the week to April 18, according to the latest CFTC report.

US Dollar relevant levels

The index is up 0.10% at 99.01 and a break above 99.24 (high Apr.24) would aim for 100.04 (38.2% Fibo of the March drop) and finally 100.12 (20-day sma). On the flip side, the next support aligns at 98.82 (11-month support line) seconded by 98.70 (low Apr.24) and then 98.67 (2017 low Mar.27).