US Dollar erodes gains, back near 95.90

The greenback, tracked by the US Dollar Index, has given up initial gains and is now returning to the 95.85/80 band.

US Dollar looks to US data

Choppy week for the buck so far, reclaiming part of the ground lost during the first half of the week although with gains still capped around today’s peaks near 96.00 the figure.

Later in the NA session, USD will take centre stage in light of the release of US Retail Sales and the Reuters/Michigan index. Prior surveys see sales to have expanded 0.4% during last month, while August’s advanced Consumer Sentiment would have improved to 91.5.

US Dollar relevant levels

The index is up 0.03% at 95.89 and a breakout of 96.50 (high Aug.5) would open the door to 96.62 (200-day sma) and finally 97.05 (78.6% Fibo of July-August drop). On the other hand, the next support lines up at 95.12 (100-day sma) seconded by 94.94 (low Aug.2) and then 94.03 (up trend off 2016 low at 91.88).