The US Dollar retreats mildly on Tuesday for a second day in a row. Traders see Durable Goods coming in as a strong beat on estimates. The US Dollar Index steadies above 104.00 and sees the selling pressure halt for now. The US Dollar weakens for a second consecutive day on Tuesday, though intraday losses are being pared back by stronger Durable Goods.
The DXY is still eyeballing a pivotal level near 104.60, where last week’s rally peaked. Further up, 104.96 remains the first level in sight. Once above there, the peak at 104.97 from February comes into play ahead of the 105.00 region, with 105.12 as the first resistance. Support from the 200-day Simple Moving Average at 103.73, the 100-day SMA at 103.49, and the 55-day SMA at 103.64 are getting a fresh chance to show their importance. The 103.