Analysis of the past week

According to the results of not a full working week (due to Easter holidays), the US dollar index managed to retreat from the lows of April. The main growth of the American dollar fell on trading on Thursday, the last full-time job before short Friday and long weekends. Thus, the US dollar index managed to gain a foothold by 0.65%, having brought support at 96.80 and having updated a high of 97.40. The reason for the growth of the American dollar was the technical correction after a decline a week earlier and the reduction of positions before the weekend, which was accelerated by weak data for the eurozone and positive data for the United States.

As a result of the current week, the American dollar managed to completely reverse the downward trend of the last weeks and strengthened above the key zone 97.00-20. The limiting factor for the dollar is its significant overbought, which as a result may result in a technical correction on the resumption of liquidity in the market. The zone of resistance is the marks: 97.50 and 97.70.

Fig. The US dollar index H4 chart. The current price is 97.40 (10-year government bonds yield is the blue line)

Hanzenko Anton