State of the market: the dollar is adjusted after decline

The US dollar index moved to a correction after a decline after the decline of the US dollar index on Wednesday on the growth of European currencies, which was caused by the possibility of reducing the budget deficit in Italy, and reducing political risks in the UK. So, since the start of trading on Thursday, there is a restrained strengthening of the American currency against a basket of competitors, which is largely due to the correction. Fundamental factors also indicate a decline in the American dollar amid rising optimism in the stock markets following the decline in the US and China trade tension and the anticipation of the ECB meeting minutes.

The US dollar index is trading near the lower boundary of the rising channel, limited to correction and support for 97.00. But, in conditions of uncertainty, this is due to the ECB meeting results, we can expect multidirectional fluctuations. Resistance Levels: 97.20 and 97.40-50.

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Hanzenko Anton

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