Analysis of the American Trading Session

At the closed stock exchanges in the USA and Canada activity was reduced in the foreign exchange market as expected. Therefore, most major currency pairs remained very restrained and traded in the flat. In conditions of reduced activity and the absence of new drivers, the market remains dominated by fundamental sentiment. Thus, all Monday trades actually became a continuation of the Friday sale of the dollar, which is confirmed by the correction attempts at the opening of trading on Tuesday.

Despite its low activity the US dollar index maintained a restrained negative trend, which actually became a correction after growth and expanded the upward channel. It is worth noting a noticeable oversold of the US dollar, which limits its further decline. Significant support remains at 96.70 and 96.50.

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

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Andre Green

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