State of the market: the market is in uncertainty
With the opening of Friday trading an ambiguous moods persist in the market, caused by the lack of a unified dynamics on the stock indices of the Asia-Pacific region and the expectation of an employment data in the United States. In addition, there is a holiday in China today, which adds to the uncertainty at the beginning of the day on the reduced market activity.
Against the backdrop of waiting for the publication of the US employment report, the US dollar was under the pressure of correction. As a result, the US dollar index declined from the start of the day to a significant support of 97.20. This level corresponds to the lower border of the general ascending channel for the dollar and acts as a reversal zone. In the face of increasing uncertainty, before the US data, the formation of a flat near this level is expected. Support levels: 97.20 and 97.00, resistances: 97.50 and 97.70.
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Hanzenko Anton
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