US Dollar looks to bounce of lows near 92.30

• The decline in the buck finds contention around 92.30 so far.
• Yields of the US 10-year note closer to the 3.0% level.
• DXY drops to fresh 2-week lows after last week’s YTD peaks.

The US Dollar Index (DXY), which tracks the buck vs. its main competitors, keeps trading on a softer note at the beginning of the week, hovering over the 92.30 region for the time being.

US Dollar looks to data, Fedspeak

The index loses momentum for the fourth session in a row on Monday, trading in fresh multi-day levels in the 92.35/30 band, as the selling pressure around the buck stays unabated so far.

The better tone in the risk-associated universe prompted the buck to recede from last week’s tops in the mid-93.00s, dropping further south of the key support at 93.00 the figure albeit finding some contention in the 92.30 area so far.

Ahead in the week, Retail Sales and the Philly Fed manufacturing index will be the main events in the US calendar along with a string of Fed speakers.

US Dollar relevant levels

As of writing the index is losing 0.32% at 92.27 and a break below 91.95 (200-day sma) would open the door to 91.82 (38.2% Fibo of 95.15-88.25) and finally 91.57 (21-day sma). On the other hand, the initial hurdle aligns at 92.64 (10-day sma) followed by 93.42 (2018 high May 8) and then 94.22 (high Dec.11 2017).