US Dollar struggles around lows near 95.50

The greenback, gauged by the US Dollar Index, is trading on the defensive today around the 95.60/55 band, near session lows.

US Dollar looks to data, risk trends

The index is surrendering part of yesterday’s strong gains, keeping the weekly upside well and sound ahead of today’s releases: Export/Import Prices and the EIA’s weekly report on crude oil inventories.

In the meantime, USD remains underpinned by speculations on the probable timing of the Fed’s rate hike, with the probability of higher rates to be announced in September at 15% and above 43% in December, according to CME Group’s FedWatch tool.

US Dollar relevant levels

The index is retreating 0.09% at 95.55 facing the immediate support at 95.20 (20-day sma) followed by 94.84 (support line off 2016 low) and finally 94.05 (low Aug.18). On the upside, a breakout of 95.58 (high Sep.9) would open the door for a test of 95.83 (55-day sma) and finally 96.25 (high Sep.1).