Analysis of the American Trading Session
Trades at the US session on Wednesday closed with the updating of the US dollar index highs. At the same time throughout the day the American dollar was traded in different directions. The driver for the strengthening of the American dollar was the negative dynamics of stock indices and positive data on the US trade balance.
As a result, the US dollar index was able to confirm the relevance of the upward dynamics, but it turned out to be a significant overbought. So, with the opening of trading on Thursday, a low-key correction can be traced, which is limited by the ascending channel. Further movement of the American in the upward channel should be expected when resistance of 97.00 will be broken through. Support levels are located on the marks: 96.80-70.
The US dollar index chart. The current price is 96.90 (10-year government bonds yield is the blue line)
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Andre Green
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