Analysis of the American session - Ester Holdings

Analysis of the American session

Trading Wednesday closed another decline in the American dollar for the second consecutive day. The reason for this was the preservation of pessimistic sentiments regarding the US economy and the global economy as a whole. An additional driver for the decline in the American dollar was the weak statistics on the number of people employed in the USA, which slowed down and put an additional pressure on the American dollar ahead of the US employment report on Friday.

The US dollar index closed lower for the second consecutive day, closely approaching 99.00. This indicates the formation of a correction against the growth of the end of September. It is also worth noting the expectation of an employment data in the US, which forces investors to adjust their positions in the dollar. In the context of the formation of a downward correction, the dollar index is limited by a restrained downward channel. Support levels: 99.00 and 98.80, resistance: 99.20-30 and 99.50.

Fig. US dollar index chart. Current price – 99.20 (10-year US government bonds yield – blue line)

Read also: “Prospects for the USD/JPY  for early July

Andre Green


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