The state of the Asian market: the US dollar found support

During the Asian-Pacific session, the US dollar index is trading in a sideways trend, limited to a resistance level of 93.900. Yesterday, the US currency accelerated the decline against the main competitors because of the pessimistic sentiment, as a result of which the minimum of the last four weeks was updated at around 93.400.

Given the latest data on inflation in the US and the positive start of the stock indices in the Asia-Pacific region, the support level is 93.400 for a short-term, from which, as expected, a correction will be formed.

At the moment, the US dollar index is limited to no less significant resistance of 93.900, the breakthrough of this level will open the way to the level of 94.400. The rising dynamics of the American largely continues to depend on the dynamics of stock indices and the cost of raw materials, which also demonstrate attempts to grow.

Hanzenko Anton