U.S. Dollar Tests New Highs
U.S. Dollar Index gains ground despite the weaker-than-expected JOLTs Job Openings report. The report showed that JOLTs Job Openings decreased from 7.146 million in November to 6.542 in December, compared to analyst forecast of 7.2 million.
The nearest resistance level for U.S. Dollar Index is located in the 98.00 – 98.15 range. In case U.S. Dollar Index climbs above the 98.15 level, it will move towards the next resistance at 98.90 – 99.05.
EUR/USD Moves Lower As ECB Leaves Rates Unchanged
EUR/USD pulled back as traders reacted to ECB Interest Rate Decision. The European Central Bank left the interest rate unchanged at 2.15%, in line with analyst estimates.
From the technical point of view, EUR/USD remains stuck between the support at 1.1750 – 1.1765 and the resistance at 1.1835 – 1.1850.
GBP/USD Retreats After BoE Decision
GBP/USD is losing ground as traders focus on BoE Interest Rate Decision. The Bank of England left the interest rate unchanged at 3.75%, in line with analyst expectations. Four BoE members voted for a cut, compared to analyst forecast of 2, which put pressure on the British pound.
Currently, GBP/USD is trying to settle below the support at 1.3570 – 1.3585. In case this attempt is successful, GBP/USD will move towards the next support level, which is located in the 1.3415 – 1.3430 range.
EUR/USD Price Forecast
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See all EUR/USD forecastsUSD/CAD Tested The 1.3700 Level
USD/CAD remains stuck near the resistance at 1.3650 – 1.3665 despite the sell-off in precious metals markets.
If USD/CAD climbs above the 1.3700 level, it will move towards the next resistance, which is located in the 1.3750 – 1.3765 range.
USD/JPY Declined Below 157.00 Amid Profit-Taking
USD/JPY pulled back from session highs as traders took some profits off the table after the strong rally.
A move above the 157.50 level will push USD/JPY towards the resistance at 158.00 – 158.50.
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