State of the market : the dollar maintains its growth
At the trading on Tuesday, the US dollar continues to strengthen against a basket of competitors. The main strengthening of the American dollar is traced against commodity currencies, while safe assets slowed down the decline. The reason for the existing dynamics in the market was the possibility of new trading risks from the US. Thus, the data that the Trump administration is ready to open a new front of the trade war with India has caused a marked increase in pessimism in the stock markets.
From the start of the day, the US dollar index has been trading with a strengthening on the growth of pessimism regarding the US truce and on the growth of risks. The dollar index has overcome significant level 96.70, despite overbought. Under the conditions of growing pessimism in the market, we can expect a test of resistance levels: 96.90 and 97.00. Support is located at marks: 96.70 and 96.50.
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Hanzenko Anton
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