US Dollar drops to lows around 95.50, NFP eyed

The greenback, tracked by the US Dollar Index, is now giving away part of recent gains and is returning to the mid-95.00s ahead of Payrolls.

US Dollar focus on Non-farm Payrolls

The index seems to have resumed its downside today after two consecutive advances, with gains so far capped in the vicinity of 95.90 and decent support found in the 95.00 neighbourhood.

Later in the NA session, July’s Non-farm Payrolls are expected at 180K (from June’s 287K) while the jobless rate is seen at 4.8%, down from 4.9%. Further US releases include Trade Balance results for the month of June and Consumer Credit figures during the same period.

US Dollar relevant levels

The index is retreating 0.15% at 95.61 facing the immediate up barrier at 95.88 (high Aug.4) followed by 96.63 (200-day sma) and finally 97.62 (high Jul.25). On the other hand, a breach of 94.94 (low Aug.2) would aim for 94.78 (61.8% Fibo of 93.03-97.62) and finally 94.01 (78.6% Fibo of 93.03-97.62).