US Dollar Index remains in red below mid-94s ahead of data. Risk appetite returns to markets on Friday. Gold looks to record weekly losses. After making a strong recovery in the second half of the day on Thursday, the XAU/USD preserved its bullish momentum on Friday and advanced to $1271. However, the pair is now having a tough time extending its gains is now moving sideways near $1270, where it’s up nearly $3, or 0.2%, on the day. The broad-based selling pressure witnessed on the greenback seems to be the primary driver of the pair’s rise today. The US Dollar Index, which failed to hold above the 95 mark after testing it during the first half of the week, lost its traction and turned negative on the week as it continued to edge lower toward the 94 mark. Ahead of the Markit PMI data from the United States, the index is down 0.3% at 94.25. On the other hand, the risk-off mood seems to have lost its control over the market action with major equity indices in Europe making a strong rebound following yesterday’s heavy losses. At the moment, Germany’s DAX and the UK’s FTSE 100 indexes are up 0.5% and 1.35% respectively. Boosted by the improved market sentiment, Wall Street could start the last day of the week on a positive note. Despite today’s modest rise, however, the pair remains on track to record losses for the second straight week. Technical levels to consider On the upside, the pair could encounter the first resistance at 1276 (Jun. 20 high) ahead of $1289 (20-DMA) and $1300 (psychological level). Supports are located at $1266 (daily low), 1252.50 (Dec. 18 low) and $1243 (Dec. 8 low). Meanwhile, the CCI indicator on the daily chart recently recovered a little above the -100 mark, suggesting that the bearish momentum is fading away. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD sellers turned up above 1.3300 FX Street 5 years US Dollar Index remains in red below mid-94s ahead of data. Risk appetite returns to markets on Friday. Gold looks to record weekly losses. After making a strong recovery in the second half of the day on Thursday, the XAU/USD preserved its bullish momentum on Friday and advanced to $1271. However, the pair is now having a tough time extending its gains is now moving sideways near $1270, where it's up nearly $3, or 0.2%, on the day. The broad-based selling pressure witnessed on the greenback seems to be the primary driver of the pair's rise today. The US Dollar… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.