State of the market

On Wednesday, the main currency pairs demonstrate a restrainedly multidirectional movement after yesterday’s strengthening of some currencies. Noticeable growth at the beginning of the day against the US currency is demonstrated by the commodity currencies of the Asia-Pacific region. In turn, the commodity market remains under pressure of correction after yesterday’s growth, but at the same time the stock markets in the Asian region are trading above zero, despite the weak closure of Wall Street.

The US dollar index is a subject to pressure due to the continued downward trend. Despite the adoption of tax reform in the US, most investors prefer to sell the American currency before the New Year.

Despite the fact that the US dollar index remains in a downward trend, the development of a rapid downward movement should not be expected. Significant support level is the level of 93.000 and 92.800, resistance: 93.200 and 93.400.

Graph of the US dollar index. The current price is 93.100.

Hanzenko Anton