US Dollar parked around 94.60 post-US data

• The index keeps the narrow range between 94.20 and 94.60.
• US 10-year yields climb to fresh tops beyond 2.92%.
• US Existing Home Sales contracted 0.6% MoM in June.

The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main competitors, is trading without a clear direction at the beginning of the week in the 94.20/60 range.

US Dollar looks to Trump, trade, data

The index is looking to extend the rebound after testing the 55-day sma in the 94.25/20 band earlier in the session, although the boundaries of the 94.60 area keep limiting the upside for the time being.

In the meantime, and against the backdrop of a vacuum of fresh headlines or events, the buck keeps looking to the US-China trade dispute for direction as well as the persistent decline in the Chinese Yuan.

On another front, yields of the US 10-year reference are prolonging the up move to the fresh tops above 2.92%.

In the data space, the Chicago Fed index surprised to the upside in June, while Existing Home Sales contracted 0.6% MoM vs. a forecasted 0.5% expansion.

US Dollar relevant levels

As of writing the index is up 0.11% at 94.56 facing the next resistance at 94.71 (10-day sma) seconded by 95.53 (high Jun.28) and finally 95.65 (2018 high Jul.19). On the downside, a breach of 94.23 (55-day sma) would target 94.20 (38.2% Fibo of 2017-2018 drop) en route to 93.71 (low Jul.9).