State of the market: the dollar continues to recover
With the opening of trading on Wednesday, the upward trend of the US dollar against the majority of its main competitors remains on the market. Earlier, the US currency strengthened significantly across the entire spectrum of the market, first against European currencies, and after the rest of the market. Against the background of significant overbought conditions, the trades on Wednesday opened with restrained attempts of correction of the American dollar, which, in turn, were limited by the growth of pessimism and the continued demand for the US dollar.
The index of the US dollar from the start of the day returned to the level of 97.30, which acts as a significant support. On the rebound from this level and maintaining the current sentiment, we can expect a repeated test of the resistance levels: 97.40 and 97.50.
Read also: “The state of the economy of New Zealand
and prospects for raising interest rates of the RBNZ”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
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