State of the market: market pessimism continues to support the American dollar

With the opening of trading on Thursday, the US currency continues to strengthen against a basket of major competitors. The main growth of the US dollar maintaines against commodity currencies, because of the preservation of negative sentiment on the stock exchanges and the negative dynamics of raw materials.

The US dollar index trades with a moderate strengthening at the opening of trading on Thursday, maintaining an upward trend, but limited to overbought and resistance: 96.50 and 96.70. It is worth noting the significant resistance at 96.50, which meets the boundaries of a two-month downward channel, fixed above which would cast doubt on the preservation of the trend.

Read also: “Emerging markets and their prospects: Chinese yuan (CNH or CNY)”

Hanzenko Anton

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