The dollar, in terms of the Index of the U.s. Dollar, are stepping up the correction lower and is maintained to the point of challenging the key support at the area of 93.00.
Us dollar attentive to Jackson Hole
The index has experienced a new downward pressure today, after the bad results of the manufacturing PMI followed by the Markit for the month of August and sales of new homes below what is expected during July. The DXY eroded and the advance of the Tuesday after the auspicious headlines about the plans for tax reform from Trump.
The bias of selling has accelerated today after the positive impressions of the PMI manufacturing in the euro area, surprising markets to the upside, and giving extra wings to EUR/USD.
In addition, the yields on the us benchmark 10-years are currently investigating the area of minimum daily around 2.18%, below the previous beyond the 2.22%.
In the future, it is expected that the USD remains under pressure in light of the speech of Yellen and Draghi of the ECB, at the Symposium Jackson Hole tomorrow and Friday.
Levels relevant to the us dollar
At the time of writing, the index is backing up a 0.30% to 93.14 facing the next support 93.00 (21 August) followed by 92.93 (minimum 11 August) and then 92.55 (minimum 2 August).
To the upside, a break above 94.14 (maximum 16th August) would 95.08 (SMA 55) , and finally 95.21 (23.6% Fibonacci retracement of the decline from 2017).