State of the market: US dollar is corrected after decrease

After the next wave of selling the American dollar on the aggravation of political risks in the US, the USD remains at the level of opening the day, preserving the potential for recovery. The reason for the decline in the US currency and the flight of investors from risks was the dismissal of US Secretary of State Rex Tillerson by the decision of President D. Trump. This against the background of the trade scandal significantly reduced interest in the US dollar.

If political risks remain, the dynamics of the US dollar index slope to the correction, which is confirmed by significant oversold and renewed investors’ attraction to risks. At the same time, the US dollar continues to be limited by a downward trend and resistance levels: 89.90 and 90.00, from which it is expected to resume decline.

US dollar index Graph. The current price is 89.80.

Ganzenko Anton