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US Dollar Index rises as new week starts

The US Dollar is accelerating the positive momentum as the week started. The index has been able to crack above 97.00 handle which is quite a positive sign for the Greenback.

The index has been gaining for second straight session since Fed’s William came up with clarification of his dovish comments. Moreover, the positive print of U-Mich index on Friday also helped the Greenback to recover lost momentum.

Technical Levels to Consider

Immediate hurdle lies at 97.20 ahead of 97.60 and then 97.80. On the flip side, immediate support lies at 96.70 ahead of 96.40 and then 96.00 handle.

US Dollar Daily Chart

 

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