Analysis of the American Trading Session
The US session on Wednesday closed with a decrease in the US dollar index against a basket of competitors. The main pressure on the American dollar came from the British pound, which strengthened across the market on reject of Brexit without a deal. As a result, the dollar weakened against other European countries. Additional pressure on the dollar came from weak data on durable goods orders and producer prices in the United States.
Against the background of the sale wave of the US dollar, the US dollar index updated the weekly low at 96.40, being oversold and opening the way to the support of 96.30-20. It is worth noting the strong oversold of the American dollar and the possibility of correction to the level of resistance 96.70-80.
The US dollar index chart. The current price is 96.60 (10-year government bonds yield is the blue line)
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Andre Green
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