US Dollar off lows post-ISM, near 95.80

The selling bias remains well and sound around the greenback, prompting the US Dollar Index to retreat to multi-day lows in the mid-95.00s, albeit recovering some pips afterwards.

US Dollar unmotivated post-ISM

The resurgence of the risk appetite sentiment has helped market participants to shrug off part of the ‘Brexit’ blues throughout the week, at the same time undermining any serious bullish attempt from the US dollar.

Positive results from the ISM Manufacturing during June have sparked some bids, allowing the index to retake the 95.70 area after dropping near 95.40, or weekly lows.

Looking ahead, ‘Brexit’ concerns (or no-concerns) will remain the key driver for the global sentiment, while the FOMC meeting (Wednesday) and June Payrolls (Friday) emerge as the most relevant events for USD.

US Dollar relevant levels

The index is retreating 0.16% at 95.80 and a breach of 93.03 (low Jun.23) would expose 92.52 (low Aug.24 2015) and finally 91.88 (2016 low May 3). On the flip side, the next up barrier lines up at 96.86 (high Jun.27) followed by 97.09 (high Mar.16) and finally 98.58 (high Mar.1).