Analysis of the American Trading Session

As a result of Tuesday, the US dollar collapsed against most major currencies. The US dollar index returned to the opening levels of the month versus the basket of competitors. The pressure on the American dollar comes from the optimistic expectations of the US – China trade talks, and very negative expectations about US interest rates.

As a result, Tuesday’s trading closed with a general decline in the US currency across the market. The US dollar index has updated significant support 96.50, than indicated the preservation of the downward dynamics and the formation of the downward channel. So, significant support is the mark: 96.50 and 96.20-30.

The US dollar index chart. The current price is 96.50 (10-year government bonds  yield is the blue line)

Read also: “Government bonds as a leading indicator of the foreign exchange market”

Andre Green

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