Analysis of the American session

Friday trading closed with a general increase in the US dollar index against a basket of competitors. Despite the correction of positions at the end of the week and the expectation of a decrease in interest rates in the USA, the US currency maintained an upward trend due to a decrease in the euro and an increase in uncertainty on Brexit. It also strengthened the position of the American dollar against other world currencies.

The US dollar index  closed the week with growth with an update of a high of 97.90 on the support, accelerating the upward trend of the past week and overbought. Further strengthening of the American dollar is limited by technical overbought and the expectation of the rates cut in the United States. Against this background, the correction is possible. Resistance levels are located at: 97.90-98.00 and 98.20, support: 97.70 and 97.50.

Fig. US dollar index chart. Current price – 97.80 (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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