An analysis of the previous day

On Tuesday, October 17, the US currency continued to rise against its main competitors, receiving support from the general strengthening of the US currency on the growth of optimism. Support for the US dollar is provided with encouraging data on the growth of the world economy and the United States.

The euro weakened significantly against the US dollar based on weak data in Germany and the eurozone. Along with the general optimism about the US dollar this pair returned to the opening of last week. Such dynamics indicate the preservation of a downtrend, which will continue in the near future. The minimum of the day is 1.1730, the maximum is 1.1790, the opening.

The British pound weakened across the entire spectrum of the market, despite positive data on inflation, which rose to the highs of 2012. The reason for the decline in the pound was the pigeon comments of the Bank of England representatives, who spoke out not in favor of rates increase in the UK. As a result, the pair GBP/USD dropped to significant support 1.3170-60, consolidation below which will open the way for sellers to the levels: 1.3110-00 and 1.3070. The minimum of the day is 1.3150, the maximum is 1.3280.

Hanzenko Anton