FXStreet (Edinburgh) - The greenback, measured by the US Dollar Index, keeps the upbeat tone during the first half of the week, now looking to consolidate the upside beyond the 95.00 mark.

DXY boosted by sentiment, US data

The bid tone around the dollar has allowed the index to recover ground lost after last week’s drop to multi-month lows in the 93.00 neighbourhood. Today, ECB headlines has been weighing on the euro since early trade and gave the greenback further oxygen, later supported by very auspicious results from US Housing Starts (1.135 M act.) and Building Permits (1.143 M act.).

DXY is now advancing for the second consecutive session and posting multi-day tops beyond the 95.00 mark. However, the current upbeat sentiment will be put to the test tomorrow, as the FOMC will publish its minutes.

DXY relevant levels

The index is now advancing 1.12% at 95.27 and a surpass of 95.47 (high May 19) would aim for 96.18 (high Apr. 29) and finally 96.93 (high Apr.28). On the downside, the immediate support lines up at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14).