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    US Dollar extends the rally to 95.30 Pablo Piovano

    The greenback, gauged by the US Dollar Index, has surpassed the 95.00 handle and is now testing 2-week tops in the 95.25/30 band.US Dollar ignores US dataUSD is sharply higher vs. its main competitors today despite US inflation figures have disappointed expectations during May, showing the CPI rose 1.0% on a yearly basis and 0.2% MoM. On the bright side, the Philly Fed Manufacturing Index has come in on the strong side for the current month.Inaction from the BoJ, BoE and the SNB at today’s meetings has lent extra legs to USD, which appears in good health after the FOMC delivered an unexpected dovish bias on Wednesday.The index has almost fully recovered the June drop to the 93.50 area, while it remains on track to retest May’s top in levels just below the 96.00 hurdle.US Dollar relevant levelsThe index is gaining 0.62% at 95.32 facing the next resistance at 95.51 (100-day sma) followed by 95.96 (high May 30) and finally 96.58 (200-day sma). On the other hand, a breakdown of 93.41 (low Jun.8) would open the door to 92.76 (78.6% Fibo of the May up move) and then 91.88 (2016 low May 3).


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