US Dollar holds despite sluggish Retail Sales

The US Dollar trades flat on Wednesday despite sluggish US Retail Sales. Markets face a relatively quiet trading day, with US markets closed in observance of Juneteenth. The US Dollar index holds above 105.00, though this week's upcoming US data might trigger a break. The US Dollar trades flat on Wednesday, with US markets closed in observance of Juneteenth. US bond markets are closed and US equities will only see the futures markets moving.

The next level to watch is 105.88, which triggered a rejection at the start of May and will likely play its role as resistance again. Further up, the biggest challenge remains at 106.51, the year-to-date high from April 16. On the downside, the trifecta of Simple Moving Averages is still playing as support. First is the 55-day SMA at 105.12, safeguarding the 105.00 figure. A touch lower, near 104.59 and 104.

Source: Financial Digest (financialdigest.net)

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