Analysis of the American Trading Session

The US session closed with a general strengthening of the US dollar against its main competitors on Wednesday. The renewed optimism in the market and the demand for the American currency, as a reaction to the persistence of risks, were the reason for it. As a result, the US dollar index updated the two-month high at 96.50, that confirmed keeping of the upward trend in the US dollar.

It is also worth noting that, we should expect to repeat the test of support levels: 96.20 and 96.00, which correspond to the lower levels of the upward channel due to the correction and preservation of risks in the market.

The US dollar index chart. The current price is 96.20 (10-year government bonds yield is the blue line)

Read also: “The Federal Reserve (Fed) and prospects for further tightening of monetary policy”

Andre Green

Earn with the help of the trade service on the news Erste News!

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