State of the market: the dollar keeps an onslaught

At the trading on Tuesday, the market remains positive dynamics of the US dollar against most major competitors. Attempts of correction after growth partially limit the upward trend of the American dollar, but the upward dynamic for the dollar remains significant. The RBA meeting protocol strengthened corrective pressure on the US dollar in the Asian trading session, which turned out to be less soft than the market expected. The reason for this was the decrease in tension around the US-China trade war.

The US dollar index maintains an upward trend, despite a noticeable overbought. The American dollar is supported by the resumption of growthof the US government bonds yield and the relative calm in the market. Given the continued growth in the dollar, we can expect a test of resistance levels: 98.50-60. Support is located at 98.20-10.

Read also: “Oil market: results and forecasts”

Hanzenko Anton

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

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