The US dollar ignores positive data, remaining under pressure of risks

Despite optimistic data on employment in the US and an increase in labor costs, the US dollar remains under pressure from the worsening of the US trade relations with trading partners. This is due to the negative dynamics of shares on Wall Street and the downward dynamics of the US dollar index.

The US dollar index remains below the opening level of the day, keeping the potential to decline, but limited to support levels: 89.40 and 89.20. Updating the highs at resistance levels: 89.80 and 90.00, may indicate the formation of the figure “head and shoulders“. At the same time, the American dynamics largely depends on the fundamental data related to protectionism in the United States.

Graph of the US dollar index. The current price is 89.60.

Hanzenko Anton