Analysis of the past week

The past week was very informative and volatile for all major currency pairs.

Over the course of the week, the dollar index against the basket of world currencies showed very multidirectional tenders and completed the week with a steady growth. In spite of this, there were differently directed fluctuations during the week, which updated the opening level of the week. The reason for the decline of the American was the data on the reduce in construction in the US.

At the same time, the US dollar index is closing at weekly highs, thereby forming a “cup with a handle” figure, which indicates a further growth of the index when the price is fixed above the level of 93.60. In case the figure works out, one should expect a resistance test at the level of: 94.00 and 94.20.

Hanzenko Anton