The main market’s drivers: market activity is declining

At the end of the day market activity is declining due to a day off in the USA and Canada. As a result, the activity in the European session has already been reduced in most currency pairs. And the main driver of the market was the dollar correction after the morning growth.

At the same time, the US dollar index is limited to correction after growth and overbought, limited to the resistance level of 97.50. On the other hand, the preservation of the uptrend and the preservation of optimism for the American dollar will contribute to its growth. After the correction, we should expect the resumption of the dollar index from the support levels: 97.20 and 97.00. Resistance is located at levels: 97.50 and 97.70-80.

The US dollar index chart. The current price is 97.40 (10-year government bonds yield is the blue line)

Read also: “Singapore Dollar. Features of trade “

Andre Green

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