DXY slumps to sub-97.00

FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its major rivals, accelerates its daily decline towards session lows in the 96.80 neighbourhood.

DXY weaker on Greece

Once again, rumours that a Greece-EU deal could be imminent have boosted the sentiment for the risk-associated space on Tuesday, pushing the index to test the lower bound of the range below the 97.0 handle.

Ahead in the session, April’s US Factory Orders are due, with consensus expecting orders to come in flat from the previous gain of 2.1%.

DXY relevant levels

The index is now losing 0.57% at 96.83 with the next support at 96.75 (low May 29) and then 94.82 (low May 22). On the flip side, a break above 97.68 (high Jun.1) would aim for 97.77 (high May 27) and finally 98.13 (high Apr.22).