Analysis of the American session
Friday’s trading closed with a decline in the American dollar against a basket of major competitors. As a result, the US dollar index updated a two months low at 97.20. The reason for the sale of the American dollar remained positive sentiment on the Brexit deal, which, in turn, supported European currencies. Also the US Federal Reserve representatives statements about their readiness to support the US economy are worth noting. This indicates a high probability of interest rates cuts in the United States.
The US dollar index closed the week with a decline, showing one of the significant weekly declines in recent months, increasing the oversold of the American dollar and opening the way to support levels: 97.00 and 96.80. The resistance levels are the marks: 97.30 and 97.50.
Fig. US dollar index chart. Current price – 97.20 (10-year US government bonds yield – blue line)
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Andre Green
Earn with the help of the trade service on the news Erste News!
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