State of the market: the dollar continues to recover
Wednesday’s trading opened with optimism in the US dollar, which moved to an upward correction starting on Tuesday. The reason for the American dollar support, in addition to technical correction, is the growth of optimism in the US-China trade relations. At the same time, the risks of a slowdown in the global economy remain, as indicated by the growth of safe assets and the negative start of China’s stock indices.
The US dollar index broke the resistance at 97.50 from the start of the day, with an upward correction. Significant resistance is the zone 97.80-70, after breaking through which we can talk about the reversal of the downward channel and the possibility of further growth. While the American dollar remains in a downtrend, support is located at levels: 97.30 and 97.20.
Read also: “The national currency exchange rate
as an advantage in trade talks”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
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