Analysis of the American Trading Session - Ester Holdings

Analysis of the American Trading Session

On Monday trades trading in the US dollar index against the basket of its main competitors closed with a slight decrease, despite significant fluctuations amid growing optimism. As a result, the minimum of the current week was updated at the level of 96.70. At the opening of trading on Tuesday, the sale of the dollar resumed, but mainly against the safe-haven currencies, which was caused by a decrease in optimism in the stock markets, but by the persistence of pessimistic sentiment on the American dollar.

The US dollar index is limited to support at 97.80-70, which corresponds to the lower limit of the general ascending channel on the American dollar. But in the conditions of breaking through this support, we can expect a more significant reduction to the support levels: 96.50-40 and 96.00.

The US dollar index chart. The current price is 96.70 (10-year government bonds yield is the blue line)

Read also: “Emerging markets and their prospects: Chinese yuan (CNH or CNY)”

Andre Green

Earn with the help of the trade service on the news Erste News!

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