State of the market: the American dollar resumes the growth

Trading on Wednesday after a moderate opening accelerates the US dollar growth across the market. The exception remains gold, which received support from the decline in stock indices. The reason for the growth of the American dollar was the possibility of approval by the US government of the so-called Hong Kong bill. This will significantly reduce the tension between the US and China and push these countries to a trade agreement. The decline in stock indexes also provides support for the American dollar, while maintaining concerns about risks.

The US dollar index after growth approached the mark of 98.00. Further strengthening of the dollar against a basket of competitors can be difficult due to overbought. The main driver for the growth of the dollar remains the promotion of the Hong Kong bill. Its acceptance or rejection will directly affect the dynamics of the American currency. Further movement of the dollar is expected in the range from 98.10 to 97.90, significant resistance is located at 98.20, support: 97.80.

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Hanzenko Anton

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