Analysis of the American session

The close of the week supported the US dollar against a basket of major competitors. The reason for the growth of the American dollar was the growth of uncertainty in the US – China trade relations and the general growth of uncertainty in the market. As a result, the demand for the American dollar has increased as a safe haven currency, especially at the end of the trading week with the existing risks.

As a result, the US dollar index closed Friday’s trading with a notable increase, updating the high at 98.40, thereby finding it overbought and provoking a move against Friday at the opening of a new trading week. But the decline in the American dollar is marked by a limited uptrend and support levels: 98.30 and 98.10.

Fig. US dollar index chart. Current price – 98.30 (10-year US government bonds yield – blue line)

Read also: “USD/CNY – an indicator of
the progress of the US-China trade relations”

Andre Green

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