Analysis of the American Trading Session
Monday trades at the American session closed with the growth of the US dollar across the market. The reason for the strengthening of the American dollar was data on trade talks at the highest level, which will be held later this week. The growth of the dollar was particularly pronounced against currencies of a safe haven, which is associated with a decrease in risks and an increase in optimism in stock exchanges.
The US dollar index updated the annual high at the level of 97.10, indicating that the upward trend was maintained, but it turned out to be a significant overbought, which may indicate a correction attempt. Support levels are: 97.00 and 96.80, resistances: 97.20 and 97.50.
The US dollar index chart. The current price is 96.00 (10-year government bonds yield is the blue line)
Read also: “Fundamental Analysis: Inflation and the Impact of its Indicators on World Currencies”
Andre Green
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