Analysis of the American session
The US session on Monday closed with the growth of the US dollar against most major competitors. The reason for which was the preservation of fears of exacerbation of trade opposition and the growth of risks on these expectations. As a result, the US dollar received support from the growth of pessimism in the market, but was limited by overbought.
The US dollar index against a basket of competitors maintains the upward channel. But it is also limited by overbought and resistance 97.50-60. Support settled at 97.30-20. Risks remain the main driver for American dollar growth.
Fig. The US dollar index chart. The current price is 97.40 (10-year US government bonds yield is the blue line)
Read also: “Dow Theory – the basics of technical analysis”
Andre Green
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