U.S. Dollar Moves Higher At The Start Of The Week
U.S. Dollar Index gains ground as traders focus on the potential deal to end the U.S. government shutdown.
Currently, U.S. Dollar Index is trying to settle above the 50 MA at 99.75. In case this attempt is successful, U.S. Dollar Index will move towards the resistance at 100.00 – 100.15. A move above the 100.15 level will push U.S. Dollar Index towards the resistance at 101.85 – 102.00.
EUR/USD Tests The 1.1550 Level
EUR/USD is losing ground as traders continue to take profits after the recent rebound. There are no important economic reports scheduled to be released in the EU today so traders will stay focused on general market sentiment.
If EUR/USD declines below the 50 MA at 1.1541, it will move towards the support level at 1.1515 – 1.1530.
GBP/USD Remains Stuck Near Key Resistance
GBP/USD remains stuck near the resistance level, which is located in the 1.3145 – 1.3160 range.
RSI is in the moderate territory, so there is plenty of room to gain additional momentum in the near term.
EUR/USD Price Forecast
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See all EUR/USD forecastsUSD/CAD Retreats Amid Rally In Precious Metals Markets
USD/CAD pulled back as traders focused on the strong rally in precious metals markets. Other commodity-related currencies are also moving higher in today’s trading session.
A move above the 50 MA at 1.4045 will open the way to the test of the resistance level at 1.4080 – 1.4095.
USD/JPY Settled The 154.00 Level
USD/JPY gained ground as Treasury yields moved higher. The yield of 2-year Treasuries settled above the 3.58% level, while the yield of 10-year Treasuries climbed above 4.10%.
The nearest resistance level for USD/JPY is located in the 154.50 – 155.00 range. If USD/JPY settles above 155.00, it will head towards the next resistance at 158.00 – 158.50.
For a look at all of today’s economic events, check out our economic calendar.
