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Analysis of the American session
Friday’s US trading session closed with a growth of the US dollar against a basket of competitors. The reason for maintaining optimism for the American dollar was positive data on the United States and the White House’s statement that it excludes the possibility of currency intervention by the US currency. The demand for the US dollar increased against this background, but was limited by overbought and the expectation of lower interest rates in the United States.
The American currency was corrected restrained at the close of trading, keeping overbought. This may indicate a downside potential for the dollar at the beginning of the week. The limiting factor for the weakening of the dollar is the remaining optimism on the American dollar and general risks. Significant resistance zone for the US dollar index: 98.20-30, support: 98.00-97.90.
Fig. The US dollar index chart. The current price is 98.10 (10-year US government bonds yield is the blue line)
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Andre Green
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