State of the market: the US dollar is under the pressure again

With the opening of trading on the American session on Monday, the ascending dynamics of the American dollar has slowed. Earlier, the dollar was supported by technical correction and exacerbation of concerns about the US-China trade confrontation. But the preservation of political risks in the United States and the rapid decline in the US government bonds yield returned negative sentiment on the market about the American dollar.

At the start of the day, the RBA meeting results were published, which, despite the preservation of monetary policy, turned out to be very optimistic thanks to the revision of forecasts for Australian economic growth upward. As a result, the Australian dollar strengthened noticeably against the US dollar, but continues to be limited by the overall downward trend and resistance of 0.7050.

The US dollar index accelerated the decline in the growth of optimism, thereby updated the low at the level of 97.40, confirming keeping the downward trend, but limited to oversold and the boundaries of the downward trend. Resistance levels are located at the levels: 97.50 and 97.60.

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Hanzenko Anton

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

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