Analysis of the past week

The first week of October for the US dollar closes lower against a basket of major competitors. As a result, the US dollar index showed a weekly volatility of about 0.94% and updated the low at 98.70. The reason for the sale of the American dollar was the aggravated risks of a slowdown in the US economy and the global economy, which was facilitated by weak data on business activity.

The decline in the American dollar was stopped by data on absolute employment in the USA, which also returned optimism to the market. With the resumption of optimism, we can expect the formation of a reversal for the dollar from the support level of 98.70-60. But the risks of a trade war are likely to keep the American dollar weekly downward trend. Resistance levels: 99.00, 99.20 and 99.50, support: 98.50 and 98.20.

Fig. US Dollar Index Chart H4. Current price – 98.80 (10-year government bonds yield – blue line)

Hanzenko Anton