Sasha Singh
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US Dollar Steady Today

Not much movement in Dollar today after the release of Housing and Consumer Sentiment data. Housing data showed some improvement beating the economist’s expectation. Whereas the consumer sentiment index fell to 81.8 in May from a reading of 84.1 in the previous month, missing the economist’s expectation for a rise to 84.5. Investors are also keeping an eye on the development in Ukraine as US secretary of State John Kerry warned Russia to face broader economic and industrial sanctions if it interfere in Ukraine’s presidential elections on May 25.  

On the 4 hour chart, Dollar Index which gauge the strength of US dollar against it's 6 major counterparts, is currently testing the support at 80.02.The 50 day SMA moved above the 100 day SMA indicating that the pair is not going to move below this support level and follow an uptrend.