The US dollar maintains a strong position. The US GDP data

The US dollar continues to put pressure on major competitors, despite the slowdown in the US GDP growth in the first quarter.

• According to published preliminary data, the US GDP growth in the first quarter was 2.3%, which is lower than the previous value of 2.9%.
• The GDP deflator showed growth of 2.0%, against the previous value of 2.3%.

The main support for the US currency is provided by the high profitability of the US state bonds, which remains close to 3.0%.

The US dollar index, during today’s trading, reached the level of 92.00, which is a significant resistance. Also, the movings of Stochastic Oscillator on the charts H1 and H4 indicate the overbought of the American currency, against which one should expect a correction of the US dollar.

Fig. Graph of the US dollar index. The current price is DXY -91.88.

Alexander Sivtsov