Analysis of the American session
The US trading session on Tuesday closed with a moderate decline in the dollar index against a basket of competitors. The reason for what served as a technical correction of positions on the American dollar before the publication of the US Federal Reserve meeting results and on the statements of the US President D. Trump. In his speech, he resumed the risks of exacerbation of the US-Chinese trade war and put pressure on the Fed. But most importantly – he strengthened the pessimistic mood in the stock markets.
As a result, a pessimism persists in the market due to the increased risks of a trade war and lower US rates. Amid the pessimism, the American dollar remains under the pressure, limited to support levels: 98.00 and 97.90. Resistance marks are: 98.20 and 98.30.
Fig. The US dollar index chart. The current price is 98.00 (10-year US 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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