Analysis of the American session

Friday’s trading closed with a collapse of the US dollar across the market. The only exception was safe haven assets, in particular the Japanese yen, Swiss franc and gold. The reason for this was the growth of optimism in the market and the correction of positions on the American before the weekend. As a result, the US dollar accelerated its decline against a basket of competitors and formed a downward trend.

At the same time, the American dollar turned out to be significantly oversold, which indicates attempts of correction, which, in turn, is limited by existing market sentiment. The downward trend in the dollar remains, but is limited by the possibility of an upward correction. Resistance level: 98.00-10, support: 97.80-70.

Fig. The US dollar index chart. Current price – 97.90 (10-year US government bonds yield – blue line)

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Andre Green

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