Forex: US Dollar Index upside capped at 79.65

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Forex: US Dollar Index upside capped at 79.65

FITITOL--> FXstreet.com (Barcelona) - The US Dollar Index, which gauges the greenback against its major competitors, is advancing firmly on Monday, as euro zone fears are hovering the markets. A combination of disappointing flash PMI figures and higher yields in the debt markets seem to be enough to shift the investors’ preference for safer assets.

More than interesting week ahead for the world’s reserve, as the FOMC meeting is due, along with flash annualized GDP figures in the first quarter (+2.6% exp.).

At the moment: AUD -0.84%, EUR -0.49%, GBP -0.18%, NZD -0.89%, CAD +0.38% CHF +0.50% and JPY -0.65%. Wall St. retreats 1.15% at 12,877 pts. and SP500 falls 1.13% at 1,362 pts. WTI is down 1.55 % at $102.24 and Gold is losing 0.68% at $1,631

The index is up 0.30% at 79.59 as of writing, with the next resistance at 79.61, ahead of 79.94 and finally 80.13
Support levels lie at 79.08 followed by 78.89 and then 78.55