Analysis of the American session

Trading on the American session on Thursday closed with the general strengthening of the American dollar across the market. The reason for the growth of the US dollar was a decrease in the likelihood of lower rates by the US Federal Reserve. But despite this, the risks of a slowdown in the US economy remain, which has become a limiting factor to a significant increase in the US. A more significant strengthening of the American dollar was traced against commodity currencies against the background of a general decline in the cost of raw materials.

As a result of the American session on Thursday, the US dollar index managed to break the weekly downward channel and fix above 97.80, thereby forming an upward trend, which is limited by resistance 98.00 and overbought. Support is located at levels: 97.80 and 97.60.

Fig. The US dollar index chart. The current price is 97.90 (10-year government bonds yield is the blue line)

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Andre Green

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