State of the market: the US dollar forms an uptrend

As it was expected the US Federal Reserve raised the key interest rates to 2.25% level according to the results of the publication, also confirming market expectations of a rate hike in the US, that was the main reason for the growth of the US dollar, which can be traced on Thursday trading. The reaction on publication of the US Federal Reserve meeting results was not unambiguous and demonstrated multidirectional dynamics, that couldn’t  be said about the trading on the Asian session of Thursday aimed at strengthening the US currency.

The US dollar index accelerated growth and is limited by resistance 94.50-60, the breakout of which will indicate the possibility of slowing and reversing the downtrend in the US currency. The second significant resistance is the level of 94.70-80. Support is located near 94.30-20.

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Hanzenko Anton

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