Analysis of the American session
Friday’s US session closed with overall growth of the American dollar across the market. As a result, the US dollar index approached the highs of June. The driver of such a rapid growth of the American dollar was data on retail sales in the United States, which indicated a less significant slowdown in the US economy. Against the backdrop of the expectations of the June meeting of the US Federal Reserve, this news has become a strong driver for the recovery of the American dollar. But it is worth noting the formation of significant overbought, which indicates attempts at correction against the Friday movement.
The index of the US dollar from the start of trading on Monday is trading with a strengthening near Friday’s highs, and limited to them. Under the conditions of a reversal formation, we can expect a correction to support levels: 97.40 and 97.30. Resistance: 97.60 and 97.70.
Fig. The US dollar index chart. The current price is 97.60 (10-year US government bonds yield is the blue line)
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