State of the Market: the US dollar was under pressure of correction

After the rapid growth of the US currency on positive data on the US GDP, real estate sales in the US and a significant reduction in geopolitical risks, the American was under pressure of correction. At the same time, the US dollar index remains in an upward trend, limited to overbought and resistance levels: 90.00-10 and 90.30-40.

The day is full of statistics on the euro area, the UK and Canada, which can increase pressure on the American because of the transfer of assets to more profitable assets, but this may be only with positive data. At the moment, the correction of the American is based on technical factors and will be limited to the range of the Asian session. The main support levels: 89.90-80 and 89.60.

Graph of the US dollar index. The current price is 90.00.

Hanzenko Anton