Analysis of the past day

The last full week of April turned out to be very volatile, despite the continuation of the celebration of Easter holidays. So, this week has also become very rich in statistics and news. The main news of this week was the exacerbation of the US sanctions against Iran, which caused a significant increase in the price of oil at the beginning of the week. But closer to the close of the week, the main oil brands moved to correction. Following the dynamics of oil, a similar movement was repeated and commodity currencies.

Throughout the week, the US currency strengthened against its main competitors, and the US dollar index for the week showed volatility in excess of 1%. Ambiguous data on the US GDP and technical correction increased the pressure on the dollar across the market. At the same time, the week and month in general remain ascending, confirming the uptrend on the American dollar. Significant support for the US dollar index is located at 97.80-60, from which we can expect a rebound. Resistance is the zone 98.20-30, which limits further strengthening.

Fig. The US dollar index H4 chart. The current price is 97.90 (10-year government bonds yield is the blue line)

Hanzenko Anton