The rise in the us dollar stalled near 93.40

The us dollar, tracked by the dollar index of EE.UU., has lost some of its initial gains today and is now flying over the area of 93.20/15.

Dollar clings to gains daily

The index is struggling to maintain its daily gains as the momentum around the pair has been fading from maximum daily near 93.40.

The DXY remains fragile despite the fact that the sales of homes pending united States surprised to the upside in June, an increase of 1.5% on a monthly basis versus the 0.7% expected and reversing a contraction of 0.7% in may. Earlier in the session, the Chicago PMI missed consensus at 58.9 for the month of July.

However, the uncertainty around the political scenario of the united States remains far from diminished, and the markets are increasingly sceptical about the ability of the Federal Reserve to offer a third rate hike sometime in the fourth quarter.

Meanwhile, the low tone in the USD reflects in the community is speculative, that is has fallen short for the first time since the beginning of June 2014 in the week to July 25, and according to the last report of the CFTC.

Levels relevant to the us dollar

The index is gaining 0.03% to 93.23 and a drop of 93.81 (SMA of 10 days) would point to 94.11 (maximum of 26 July) and then 94.74 (SMA 21 days).

On the negative side, the immediate support emerges at 93.00 (minimum of July 27, 2017) supported by 92.52 (minimum of 24 August 2015) and finally 91.88 (minimum of may 3, 2016).

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