US Dollar trims gains, approaches 95.80

The greenback, gauged by the US Dollar Index, has abandoned the area near 95.50 and has so far regained the 95.75/80 band.

US Dollar capped near 96.30

The greenback has started the week on the defensive after a volatile session on Friday saw the index dropping to the 95.20 area in the wake of the Payrolls figures juts to close the week near the 96.00 handle.

The upbeat tone, however, did not find follow through today, with USD rebounding from the mid-95.00 amidst scarce volatility due to the inactivity in the US markets.

Looking ahead, the ISM Non-manufacturing will take centre stage tomorrow, followed by the Fed’s Beige Book on Wednesday and the weekly report on the US labour market on Thursday.

US Dollar relevant levels

The index is losing 0.10% at 95.75 with the next hurdle at 96.28 (200-day sma) ahead of 96.50 (high Aug.5) and finally 96.86 (high Jun.27). On the other hand, a breakdown of 95.17 (low Sep.2) would aim for 94.81 (78.6% Fibo of the July-August drop) and then 94.66 (support line off 2016 low).