Analysis of the American Trading Session
Trading on the American session on Tuesday closed with restrained movement of the US currency near three-week lows. The pressure on the dollar comes from the pessimistic expectations that the US Federal Reserve will continue to adhere to the policy of saving rates and lowering forecasts for their increase. As a result, the US dollar remained under pressure across the market.
An update of the lows by the US dollar index at 96.30 indicates that the downward dynamics is maintained. Technical correction before the Fed meeting caused a reduction in short positions on the American dollar. As a result, a correction to the resistance levels is possible: 96.50 and 96.70.
The US dollar index chart. The current price is 96.40 (10-year government bonds yield is the blue line)
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Andre Green
Earn with the help of the trade service on the news Erste News!
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