Analysis of the past week

The past week closes near the weekly highs for the US dollar index against a basket of major competitors. The reason for the general growth of the US dollar was the growth of negative sentiment in the stock markets at the end of the week and weak statistics for the eurozone. It was reinforced by low activity on the background of weekends in the United States over the Thanksgiving Day celebration.

As a result, the US dollar index closes the week with the renewal of highs, which indicates the breaking of the downtrend of recent weeks and the resumption of growth in the general two-month uptrend. At the same time, the further growth of the US dollar index is limited by overbought and resistance levels: 96.80 and 97.00, from which a correction is possible. Support is located at the levels: 96.60-50 and 96.20.

The US dollar index H4 chart. The current price is 96.80 (10-year government bonds yield is the blue line)

Hanzenko Anton