US Dollar looks to advance beyond 91.00 ahead of US data

• The greenback is looking to add to the ongoing rally above the 91.00 handle.
• US 10-year yields sidelined around 2.96% after testing the 3.0% vinicity on Monday.
• US CB’s Consumer Confidence, New Home Sales, S&P/CS Index next on tap.

In terms of the US Dollar Index (DXY), the greenback remains on the upper bound of the recent range, hovering over the critical 91.00 milestone.

US Dollar in 3-month tops

The index is posting marginal gains today and is trying at the same time to consolidate the recent strong gains, which have pushed the buck to the key 91.00 zone, levels last traded in mid-January.

The up move in the greenback has been on the back of rising yields of the key US 10-year note, faltering just below the psychological 3.0% mark at the beginning of the week, or multi-year peaks. Yields in the US money markets have been outperforming as of late as investors appear to have refocused their attention back to monetary policy.

Later in the session, USD should be in centre stage in light of the release of New Home Sales, the S&P/Case-Shiller Index and the CB’s gauge of Consumer Confidence.

US Dollar relevant levels

As of writing the index is up 0.02% at 90.95 and a break above 91.08 (high Apr.24) would open the door to 91.70 (50% Fibo of 95.15-88.25) and finally 92.04 (200-day sma). On the other hand, the next support lines up at 90.72 (100-day sma) followed by 89.99 (10-day sma) and then 89.95 (high Apr.20).