State of the market: the American dollar is under the pressure of correction against Friday

European trading session opened with increased pressure of correction for the US dollar against Friday’s growth. In addition to the correction against Friday, the market remains uncertain about the US dollar, associated with the expectation of the US Federal Reserve rates cut for the current week. This leads to a moderate decline in the American dollar against a basket of major competitors.

The US dollar index at the start of the week is limited by overbought and attempts of correction after growth, forming a rebound from the level of 97.90. The decline in the American dollar, in turn, is limited by the upward channel and support levels: 97.70 and 97.50.

Read also: “The results of the US-China trade talks”

Hanzenko Anton

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

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