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State of the market: the American dollar maintains the pressure
With the opening of the new trading week, the restrained strengthening of the US dollar against a basket of major competitors remains on the market. Despite the noticeable growth on Friday and the general overbought of the dollar, the US dollar maintains an upward trend in almost the entire spectrum of the market. The reason for the growth of the US dollar is the preservation of negative sentiment on the stock exchanges and the preservation of the uptrend on the American dollar.
The limiting factor for the dollar is the technical correction against Friday’s growth and the expectation of the US Federal Reserve rates cuts this week. As a result, the upward dynamics on the American dollar will be limited. Significant resistance for the American dollar ranged at 98.20 and 98.30, support: 98.00 and 97.80.
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Hanzenko Anton
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