U.S. Dollar Gains Ground As Existing Home Sales Rise By 1.5%: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Index Attempts To Settle Above The 99.00 Level

U.S. Dollar Index is moving higher as traders react to the Existing Home Sales report. The report indicated that Existing Home Sales increased by +1.5% month-over-month in September, compared to analyst forecast of -2.0%.

U.S. Dollar Index continues its attempts to settle above the nearest resistance level at 98.85 – 99.00. If U.S. Dollar Index manages to settle above the 99.00 level, it will head towards the resistance at 100.00 – 100.15.

EUR/USD Climbed Back Above The 1.1600 Level

EUR/USD attempts to gain upside momentum as traders focus on the Euro Area Consumer Confidence report. The report showed that Consumer Confidence improved from -14.9 in September to -14.2 in October, compared to analyst forecast of -16.

A move above the 50 MA at 1.1627 will open the way to the test of the resistance level at 1.1685 – 1.1700.

GBP/USD Tests Support At 1.3330 – 1.3350

GBP/USD is under pressure as traders react to CBI Business Optimism Index report. The report indicated that Business Optimism decreased from -27 to -31, compared to analyst consensus of -29.

In case GBP/USD settles below the support at 1.3330 – 1.3350, it will head towards the next support level, which is located in the 1.3235 – 1.3250 range.

USD/CAD Remains Stuck In A Tight Range

USD/CAD is mostly flat as traders focus on Canada’s Retail Sales report. The report showed that Retail Sales declined by -0.7% month-over-month in September, compared to analyst forecast of +0.5%.

If USD/CAD stays below the support level at 1.4000 – 1.4015, it will head towards the support at 1.3910 – 1.3925.

USD/JPY Gains Ground As Treasury Yields Rise

USD/JPY is moving higher as traders bet on dovish BoJ. Rising Treasury yields provide additional support to USD/JPY.

A move above the 153.00 level will open the way to the test of the resistance level at 154.50 – 155.00.

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