State of the market: the dollar remains under pressure

A reserved decline of the American dollar against the currencies of the Asia-Pacific region has been traced since the start of trading at the Asian session of Wednesday. Very positive data and the Asia-Pacific region indices growth were the reasons for such a decline. The growth of stock indices remains after the positive closing of trading on Wall Street, that confirmed the reduction of risks around the US and China trade confrontation.

The US dollar index since the beginning of the day is trading above support at 94.50 after the minimum was updated at 94.30. These attempts at growth are more corrective, since the downward dynamics in the dollar persists. Significant resistance is located at the level of 94.70-80, the upper boundary of the downward channel.

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Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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