State of the market: the dollar is adjusted after the decline

The movement against Wednesday is continuing with the opening of trading on Thursday. It is mainly aimed to the recovery of the US currency. The correction of the US dollar from the start of the day has a technical character, which is facilitated by the correction of euro positions before the publication of the ECB meeting results. Under the conditions of remaining geopolitical risks, the cautious position of the ECB will only strengthen. Therefore, many investors and the market start to cut their positions in the single currency, fearing the lower forecasts for economic growth in the eurozone.

The US dollar index from the start of the day shows a rapid correction, after updating the low at the level of 96.00-10. The return of an American dollar above 96.20 indicates an attempt of correction, but the downward dynamic remains. Significant resistance levels are located at the levels: 96.30 and 96.20, support: 96.00 and 95.80.

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Hanzenko Anton

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