U.S. Dollar Attempts To Rebound
U.S. Dollar Index rebounds from session lows as traders take some profits off the table after the recent move. Today, traders also focused on Producer Prices data. PPI declined by -0.4% month-over-month in March, compared to analyst consensus of +0.2%.
Currently, U.S. Dollar Index is trying to settle above the resistance at 100.20 – 100.40. In case this attempt is successful, U.S. Dollar Index will move towards the next resistance level, which is located in the 101.70 – 101.90 range.
EUR/USD Tests Support At 1.1275 – 1.1290
EUR/USD moved away from session highs amid profit-taking. Currently, EUR/USD is trying to settle below the support at 1.1275 – 1.1290.
In case this attempt is successful, EUR/USD will move towards the next support level, which is located in the 1.1185 – 1.1200 range.
GBP/USD Pulls Back From Session Highs
GBP/USD did not manage to settle above the resistance at 1.3080 – 1.3100 and pulled back. Today, traders focused on the GDP report from the UK. The report showed that GDP increased by +0.5% month-over-month in February, compared to analyst forecast of +0.1%.
The nearest support level for GBP/USD is located at 1.2980 – 1.3000. A move below the 1.2980 level will push GBP/USD towards the 50 MA at 1.2923.
EUR/USD Price Forecast
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See all EUR/USD forecastsUSD/CAD Tested New Lows
USD/CAD tested new lows as demand for commodity-related currenices remained strong amid strong rally in precious metals markets.
If USD/CAD settles below the 1.3900 level, it will head towards the support at 1.3800 – 1.3820.
USD/JPY Tries To Rebound As Treasury Yields Move Away From Session Highs
USD/JPY moved away from session lows as Treasury yields pulled back from recent highs. The strong move in Treasury yields has served as the key driver for USD/JPY in recent trading sessions.
In case USD/JPY manages to settle above the 144.00 level, it will move towards the resistance level at 146.50 – 147.00.
For a look at all of today’s economic events, check out our economic calendar.
