DXY nose-dives to 95.70

FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, is extending its daily decline on Monday, currently testing lows around 95.70.

DXY weaker on Greece, US data

There seems to be no respite for the USD downside today, with the index dropping to multi-day lows in the 95.75/70 area. Exaggerated optimism on a deal between Greece and its EU partners put the dollar under increasing selling pressure throughout the session and boosted the sentiment towards the risk-associated assets.

In addition, miserable results from US Factory Orders during April added to the gloomy scenario for the greenback (-0.4% act.), which sees its recent gains markedly trimmed.

DXY relevant levels

The index is now losing 1.67% at 95.76 with the next support at 95.05 (low May 21) followed by 94.82 (low May 22) and then 94.13 (low May 14). On the flip side, a break above 97.68 (high Jun.1) would aim for 97.77 (high May 27) and finally 98.13 (high Apr.22).