State of the market : the US dollar keeps the pressure

With the opening of trading on Tuesday, the US currency accelerated growth against a basket of competitors. The reason for the strengthening of the US dollar remains negative sentiment on the stock exchanges and concerns about the slowdown of the global economy. It is also worth noting the negative dynamics of raw materials, which has become a driver to strengthen the American dollar against commodity currencies.

From the start of the day the US dollar index has been trading with strengthening, updating Monday’s high and aiming for the test of resistance 96.50, indicating that the upward trend is maintained, which can be further limited by overbought. Significant resistance settled at levels: 96.50 and 96.70, support: 96.30-20 and 96.00.

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Hanzenko Anton

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