Analysis of the American session

Trading on the American session on Tuesday closed with a noticeable increase in the US dollar index against a basket of major competitors. The reason for this was the growth of optimism in the stock markets of America, which, in turn, was transferred to the Asian stock markets. Against the background of a general increase in optimism, the assets of the safe haven turned out to be under the pressure, which made the American dollar noticeably stronger. This allowed the US dollar index to slow down the downward trend of the current month.

At the beginning of the day at the trades in Asia, the same dynamics persisted, but with the negative dynamics of the background indices of Europe, the American dollar moved to a correction on the level of 97.50-60. The resumption of pessimism in the market may strengthen the dollar correction. The upward trend in the US dollar index will be limited to support: 97.40 and 97.30. The resistance zone is located at the levels: 97.60 and 97.70.

Fig. The US dollar index chart. The current price is 97.50 (10-year government bonds yield is the blue line)

Read also: “Swiss franc (CHF) –
features of trading on cross-rates»

Andre Green

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Earn with the help of the trade service on the news Erste News!

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