U.S. Dollar Is Flat At The Start Of The Week: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Index Remains Stuck Below 100

U.S. Dollar Index is mostly flat as traders wait for additional catalysts. There are no important economic reports scheduled to be released in the U.S. today, so traders focus on tariff news.

In case U.S. Dollar Index climbs above the resistance at 100.20 – 100.40, it will move towards the next resistance level, which is located in the 101.70 – 101.90 range.

EUR/USD Pulls Back Amid Profit-Taking

EUR/USD is losing some ground as traders take profits off the table after the strong rally. From a big picture point of view, traders have already started to prepare for ECB Interest Rate Decision, which will be released on Thursday.

The nearest support level for EUR/USD is located in the 1.1275 – 1.1290 range. A move below the 1.1275 level will open the way to the test of the next support at 1.1185 – 1.1200.

GBP/USD Tests Resistance At 1.3180 – 1.3200

GBP/USD is trying to settle above the resistance at 1.3180 – 1.3200 as the strong rally continues.

In case this attempt is successful, GBP/USD will move towards the next resistance, which is located in the 1.3300 – 1.3320 range. RSI is in the overbought territory, but there is enough room to gain additional upside momentum in the near term.

USD/CAD Attempts To Rebound

USD/CAD is moving away from recent lows as traders focus on the pullback in the oil markets. Other commodity-related currencies are moving higher in today’s trading session.

The nearest resistance level for USD/CAD is located in the 1.3930 – 1.3950 range. If USD/CAD settles above the 1.3950 level, it will head towards the next resistance at 1.4060 – 1.4080.

USD/JPY Tests Resistance At 143.50 – 144.00

USD/JPY continues its attempts to settle back above the resistance at 143.50 – 144.00.

A move above the 144.00 level will push USD/JPY towards the 50 MA at 145.66.

For a look at all of today’s economic events, check out our economic calendar.