DXY: under pressure but making a minor recovery from key support

DXY has been trading in a range of 95.511 - 95.980 and remains under pressure, albeit starting to correct off the lows, currently trading at 97.73 spot. 

Fed: Depending on the economy, a third rate hike could be delivered in December  - BBH

DXY lost its footing at the start of the session as traders prepared for Yellen;s testimony. Fed's chairwoman Yellen. The Fed's June meeting of the Fed’s Open Market Committee did not deliver very much clarity to markets, so traders were keenly awaiting this event today.

However, there is still a lack of clarity although it seems quite clear that there is still some concern in regards to inflationary pressures and the Fed seems to be held for now until they are satisfied that their inflation target can be met. The dollar is better offered as a result. 

DXY levels

96.00 is the big resistance level that has held since 7th of this month ahead of 0.9629 and 0.9742. To the downside,  95.73, 95.66 and 95.56.