State of the market: the dollar is under pressure of correction

On Friday trades the US dollar demonstrates a restrained negative trend against its main competitors. On the market, there is a decline in the American dollar against risky assets, mainly against commodity currencies against the background of a positive close of trading on Asian stock markets, which caused an increase in optimism in the market. Also, the weaknessof the American dollar is due to the expectation of an employment report in the United States, where weak statistics is expected, and the speech of Fed Chairman Powell, who remains under pressure from criticism of the White House.

As a result, the US currency remains under pressure, limited to support levels: 96.20 and 96.00. Correction of positions on the American dollar indicates a slowdown in the upward trend in the dollar of the last days. Significant resistance is located at the levels: 96.50 and 96.70.

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Hanzenko Anton

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