U.S. Dollar Gains Ground As Traders Stay Focused On U.S. – China Relations: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Rebounds After Pullback

U.S. Dollar Index gains ground as traders stay focused on the trade war between the U.S. and China.

In case U.S. Dollar Index manages to settle above the 99.50 level, it will move towards the nearest resistance, which is located in the 100.00 – 100.15 range.

EUR/USD Retreats As Traders Focus On Germany’s Wholesale Prices Report

EUR/USD pulls back as traders react to the Wholesale Prices report from Germany. The report indicated that Wholesale Prices increased by +1.2% year-over-year in September, compared to analyst forecast of +0.9%.

A move below the 1.1550 level will open the way to the test of the nearest support level, which is located in the 1.1450 – 1.1465 range.

GBP/USD Remains Stuck Below The 1.3350 Level

GBP/USD continues its attempts to settle above the resistance level at 1.3330 – 1.3350. RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.

In case GBP/USD climbs above 1.3350, it will move towards the nearest resistance at 1.3485 – 1.3500.

USD/CAD Climbed Back Above 1.4000

USD/CAD gains ground despite the strong rally in precious metals markets. Other commodity-related currencies are moving higher in today’s trading session.

Currently, USD/CAD is trying to settle above the resistance level at 1.4000 – 1.4015. In case this attempt is successful, USD/CAD will head towards the next resistance at 1.4080 – 1.4095.

USD/JPY Gains Ground As Traders Buy The Dip

USD/JPY moved higher as traders used the recent pullback as an opportunity to increase their long positions at attractive levels.

If USD/JPY manages to settle above the 153.00 level, it will head towards the resistance level at 154.50 – 155.00.

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