State of the market: the dollar remains under pressure

Since the start of trading on Thursday, the US dollar weakened against a basket of major competitors in maintaining the downtrend. At the same time, commodity currencies continue to trade lower against the US dollar, just like the US currency against safe havon assets. Stock exchanges show mixed dynamics at the beginning of the day, despite the positive close of trading on Wall Street.

A decrease in activity before the weekend in the United States over the Thanksgiving Day celebration adds uncertainty to the market. It is also worth noting that despite attempts to increase optimism in the stock markets, the risks in the market remain. The main sources of risk are the fundamental and political risks that are concentrated around Brexit and the Italian budget situation.

The US dollar index maintains a downward trend in maintaining the downtrend. As a result, a test of support levels is possible: 96.50 and 96.30-20. Resistance is at 96.80-90.

Read also: “Features of Trade on Bollinger Lines”

Hanzenko Anton

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