Analysis of the American session
The American session on Thursday closed with the continuation of restrained growth of the American dollar across the market. The only exception was gold, which was supported by the exacerbation of tension in the Middle East. The positive dynamics of the American dollar at the end of trading on Thursday was associated with the risks of exacerbation of the trade war and the growing political and military uncertainty.
As a result, the US dollar index updated its weekly high against a basket of major competitors. Thus, he formed a reversal after a decline at the beginning of the month. But it is worth noting that the American dollar is in significant overbought, which limits the further growth of the dollar. It is also worth noting the risks of a trade war that could increase the pressure on the US dollar. Resistance levels: 97.10 and 97.30, support: 96.90 and 96.70.
Fig. The US dollar index chart. The current price is 97.00 (10-year US government bonds yield is the blue line)
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Andre Green
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