Analysis of the American Trading Session
The American session on Friday closed very ambiguously, updating the lows for the American currency. The reason for the sale of the US dollar was the aggravation of trade relations between the US and the euro area, which led to a decrease of the profitability of the US government bonds and, as a result, the sale of the dollar, which is traced at the beginning of the new week.
The US dollar index at the same time is limited to Friday’s lows and support levels: 94.40 and 94.20, but retaining the potential for decline on the formation of an expanding trading range. Driver to further sales of an American dollar can be a decrease in 10-year government bonds, which are limited to the support level of 2.85%.
US dollar index Chart. The current price is 93.80 (the yield of 10-year government bonds is a blue line)
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Andre Green