Analysis of the American Trading Session

Trading on the US session on Monday closed with a moderate correction of the US dollar after a significant decline across the market. The driver of the collapse of the American dollar became political risks in the United States and technical correction, which intensified against the expectations of the ECB and the Fed meetings results. On Monday, the day the US dollar index managed to rebound from support for 97.00, but the full-scale recovery was limited to the level of 97.10. This actually made a correction before continuing the decline.

The US dollar index, after fixing below the level of 97.00, opens the way to a further decline. Significant support is located at the levels: 96.80 and 96.70.

The US dollar index chart. The current price is 96.90 (10-year government bonds yield is the blue line)

Read also: “Stock Indices: European Union Market”

Andre Green

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