The main market's drivers - Ester Holdings

The main market’s drivers

With the opening of trading on the US stock exchanges the US currency moved to a correction after a decline that was traced throughout the European session against European currencies. The driver of strengthening the decline on the American dollar was the general strengthening of the British pound on the data on Brexit. As a result, the US dollar index updated a two weeks lows at the level of 96.40, which actually broke the upward dynamic of the last two months.

With all this, investors are not in a hurry to develop a downward dynamoc for the dollar, which is limited by the oversoldness of the American dollar. As a result, the market can be traced to the formation of a correction against the dollar decline, which will be limited to the downward sentiment on the American dollar. Resistance levels are: 96.80 and 97.00, support levels are: 96.50 and 96.30-20.

The US dollar index chart. The current price is 96.70 (10-year government bonds  yield is the blue line)

Read also: “In Focus: Analysis of transactions for a EUR/USD pair during the week”

Andre Green

Earn with the help of the trade service on the news Erste News!

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