Daily market review 13 March

Short-term dollar for sale

As has repeatedly been noted earlier breakthrough support 101,40 (USDX USD index), will indicate the inability of buyers for the US dollar to continue to grow. Accordingly, on the last trading day of the past week quotations of the US dollar index managed to overcome the support at 101.40 mark, thereby breaking the uptrend line on the daytime timeframe. All this indicates that demand for the US dollar, across the entire spectrum of the market, will decline.
Price chart of the US dollar index

The closest target for sellers is the mark of 100.50 / 55. Given the active weakening of the US dollar, to the immediate goal of the sellers there are already not so many, only 0.25-0.3%.
Accordingly, the rate of weakening the US dollar may decline, especially given the low saturation of the news background. At the same time, the appearance of any information that the US Federal Reserve will not raise the basic interest rate, at the current meeting of the FOMC, can provoke a strong wave of sales of the US dollar across the entire spectrum of the market. While statements by members of the FOMC committee about their readiness to vote for the next stage of raising rates, it can still support the US dollar.

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