Analysis of the American session

Friday’s trading closed with a general decline in the US dollar across the market. The reason for this was optimistic expectations regarding the US – China trade talks. As a result, the American dollar increased the likelihood of lower rates in the United States and accelerated the downward trend against a basket of competitors. An additional pressure on the dollar had a technical correction of positions at the end of the week.

As a result, the US dollar accelerated the October downtrend against a basket of competitors, updating the low at 98.20, but became oversold. In the conditions of a technical correction against Friday, the American dollar recovery will be limited by resistance levels: 98.60 and 98.80.

Fig. US dollar index chart. Current price – 98.50 (on 10-year US government bonds yield – blue line)

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Andre Green

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