Analysis of the past week

The past week was full of significant statistics and various statements that had a fundamental impact on the market. Also this week the forum in Davos ended, which was not attended by key people. With all the factors, the week turned out to be very volatile and not only thanks to Draghi and the euro, which remained the main driver of trading in the second half of the week.

But the dynamics of the US dollar during the week remained limited lateral dynamics despite the very high volatility and significant news. The US Dollar Index closes a week with a decline, which was caused by the growth of optimism in the market and the correction of positions on the American dollar at the end of the week.

The US dollar index closes the week at 96.00, indicating the refraction of the general uptrend and, as a result, a deeper decline. But it is worth noting the oversold of the dollar and the possibility of correction. Support levels: 95.80 and 95.50, resistance: 96.20 and 96.50.

The US dollar index H4 chart. The current price is 95.90 (10-year government bonds yield is the blue line)

Hanzenko Anton