Analysis of the American session - Ester Holdings

Analysis of the American session

The US trading session on Tuesday closed with a decline in the US dollar against a basket of major competitors. The main reason for the decline in the American dollar was the technical correction of positions in the US dollar before the publication of the US Federal Reserve meeting minutes regarding interest rates. Given the fact that the market expects the US rates to drop by 25 b.p. It’s not strange that the American dollar was under the pressure. Also, the market will expect hints of further US monetary policy in the future and the possibility that it will be softer is not ruled out.

Against the background of pessimistic expectations, the American dollar remains under the pressure, remaining in the correction phase, limiting itself to overselling and support levels: 97.60-50 and 97.30. The resistance is the levels: 97.80 and 98.00.

Fig. US dollar index chart. Current price – 97.70 (10-year US government bonds yield – blue line)

Read also: “The ECB is preparing a stimulus  package”

Andre Green


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