US Dollar clings to gains around 94.00

The US Dollar Index, which tracks the greenback vs. its main rivals, is recovering the smile today, advancing to session highs above the 94.00 handle.

US Dollar firmer on Yellen

The index is reverting part of Monday’s drop to the mid-93.00s, managing to regain the 94.00 barrier following a sudden bout of risk aversion after latest poll results showed the ‘Remain’ vote is leading by just 1% over the ‘Leave’ option.

USD remains under the microscope today as Chair Yellen is speaking before the Senate Banking Committee. Yellen argued that the Fed sees inflation rising to 2% target in the medium term, adding that the uncertainty around the US economic outlook rules out a pre-set course of monetary policy.

US Dollar relevant levels

The index is gaining 0.39% at 94.05 facing the next up barrier at 95.53 (high Jun.16) ahead of 95.96 (high May 30) and finally 96.56 (200-day sma). On the other hand, a breach of 93.41 (low Jun.8) would aim for 92.76 (78.6% Fibo of the May up move) and then 91.88 (2016 low May 3).