State of the market: the US currency is significantly oversold - Ester Holdings
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State of the market: the US currency is significantly oversold

After trading on Monday, which ended with a general decline in the US currency, this asset remains in the zone of considerable oversold, which may cause a correction. The sale of the American and the strengthening of risky assets were caused by the reduction of risks relative to the US trade war. As a result, under the pressure were also assets of the safe haven, especially the Japanese yen.

The US dollar index remains in a downward trend, maintaining a significant oversold. On the other hand, the update of the March low indicates the possibility of further decline to the support level of 88.80-70. At the same time, the level of 89.00 remains a significant psychological support.

Graph of the US dollar index. The current price is 88.90.

Hanzenko Anton

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