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The main market’s drivers
With the opening of trading on the US trading session, the sale of the US dollar across the market has slowed. In addition to technical oversold, American dollar was supported by multidirectional data on the United States and a decrease in the British pound. Bank of England meeting results had a pressure on the pound. Following the British, commodity currencies slowed down the growth against the American dollar.
As a result, after the sale, the US dollar index found a support at 96.70-60. The American dollar remains oversold significantly and does not exclude the possibility of a moderate correction to the resistance levels: 96.90 and 97.00.
Fig. The US dollar index chart. The current price is 96.60 (10-year US government bonds yield is the blue line)
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Andre Green
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