Analysis of the past week

At the end of the week, investors continued to buy US currency, due to rising risks in the market and general negative sentiment on stock markets. At the same time, the dollar was supported by the restrained results of the ECB meeting and Draghi’s press conference. Ambiguous data on the US GDP also had a slight effect on American dollar growth. As a result, the US dollar closes the week with significant growth against the basket of competitors.

As a result of the week, the US dollar index updated a maximum of 96.80, a maximum of August and the current year. Thus, the zone 96.80-97.00 acts as a significant resistance, which acts as an insurmountable resistance, against the background of the correction of positions before the weekend. But general upward dynamic of the American dollar remains in force and is limited by the correction, which, in turn, is limited to the support of 96.50 and 96.30-00.

The US dollar index H4 chart. The current price is 95.60 (10-year government bonds yield is the blue line)

Hanzenko Anton