Analysis of the past week

The past week has become very negative for the US currency. It has weakened across the entire market spectrum. The reason for the sale of the American dollar during the week was the growth of optimism in the stock markets and the reduction in risks, which caused an increase in demand for more risky assets. Additional pressure on the dollar had weak inflation  data in the US, which increased the sales of the American dollar.

As a result, the US dollar index closes the week with the update of the low at 94.40 and, despite the correction, below the psychology of 95.00 and indicating the preservation of a downtrend that opens the way to support levels: 94.30 and 94.00.

The US dollar index H4 chart. The current price is 94.80 (10-year government bonds yield is a blue line)

Hanzenko Anton