U.S. Dollar Pulls Back
U.S. Dollar Index is losing some ground as traders react to JOLTs Job Openings report. The report showed that JOLTs Job Openings increased from 7.372 million in September to 7.744 million in October, compared to analyst forecast of 7.48 million.
The nearest support for U.S. Dollar Index is located in the 106.00 – 106.15 range. A move below the 106.00 level will push U.S. Dollar Index towards the next support level at 104.30 – 104.50.
EUR/USD Gains Ground As Traders Wait For Catalysts
EUR/USD managed to gain some ground amid lack of strong catalysts in the EU. From a big picture point of view, traders will stay focused on the political instability in France.
If EUR/USD moves back above the support at 1.0525 – 1.0540, it will head towards the nearest resistance level at 1.0620 – 1.0640.
GBP/USD Attempts To Settle Above 1.2670
GBP/USD moved higher despite weak BRC Retail Sales Monitor report. The report showed that retail sales declined by 3.4% year-over-year in November, compared to analyst foreast of +0.7%.
A move above the resistance level at 1.2700 – 1.2715 will push GBP/USD towards the next resistance at 1.2850 – 1.2870.
EUR/USD Price Forecast
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See all EUR/USD forecastsUSD/CAD Moves Higher Despite Rally In The Oil Markets
USD/CAD gains ground despite the rally in the oil markets, which was triggered by rising geopolitical risk premium.
If USD/CAD stays above the 1.4050 level, it will move towards the nearest resistance level at 1.4100 – 1.4120.
USD/JPY Tests New Lows
USD/JPY tests new lows as traders stay bearish despite rising Treasury yields. RSI remains in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
From the technical point of view, USD/JPY settled below the support level at 150.00 – 150.50 and is trying to settle below the 149.00 level. In case this attempt is successful, USD/JPY will head towards the next support level at 147.00 – 147.50.
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