US Dollar pares losses, near 95.70

By FXStreet FXStreet (Edinburgh) – The greenback, in terms of the US Dollar Index, has managed to recover from session lows near 95.20 to the current 95.65/70 band.

US Dollar shrugged off data, ADP eyed

The greenback remains resilient in the upper band of the daily range so far, in spite of the recent miss from the relevant ISM Manufacturing PMI, coming in at 51.1 during August. Further data also showed US consumer confidence tracked by the IBD/TIPP index at 42.0, or nearly 2-year lows.

Looking to Wednesday’s docket, the ADP Employment Report emerges as the most relevant release, preceding Factory Orders and the Fed’s Beige Book. Market consensus expects the US private sector to have added 201K jobs during last month.

US Dollar levels to consider

At the moment the index is losing 0.19% at 95.64 and a breach of 95.19 (low Sep.1) would aim for 94.99 (low Aug.24) and finally 93.92 (low Aug.26). On the flip side, the next hurdle lines up at 95.89 (high Sep.1) followed by 96.57 (high Aug.20) and then 97.07 (high Aug.19).
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Source:: FX Street