State of the market: pessimism supports the American dollar

The low-key trading on Tuesday opened with an increase in the pessimism of European stock indices. At the same time, the growth of optimism in the US – China trade talks strengthened the upward correction for the US dollar. As a result, a restrained formation of a correction for the American dollar is traced on the market which was previously under the pressure.

The US dollar index is limited by lateral dynamics, straying from support 97.20-15. The American dollar is supported by optimism in the US – China trade talks in addition to reducing the US government bonds yield. The upward correction of the American dollar remains limited by the resistance levels: 97.50 and 97.70.

Read also: “How real is the slowdown of the bearish trend for the euro?”

Hanzenko Anton

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