U.S. Dollar Tests Weekly Lows
U.S. Dollar Index is losing ground despite higher-than-expected PPI. According to recent reports, global reciprocal tariffs will not take immediate effect, which is bearish for the U.S. dollar.
The nearest support level for U.S. Dollar Index is located in the 106.80 – 107.00 range. In case U.S. Dollar Index declines below the 106.80 level, it will head towards the next support, which is located in the 105.50 – 105.70 range.
EUR/USD Attempts To Settle Above 1.0435
EUR/USD is moving higher despite disappointing Euro Area Industrial Production report. The report indicated that Industrial Production declined by 1.1% month-over-month in December, compared to analyst forecast of -0.6%.
Currently, EUR/USD is trying to settle above the resistance at 1.0420 – 1.0435. In case this attempt is successful, EUR/USD will head towards the next resistance, which is located in the 1.0515 – 1.0530 range.
GBP/USD Gains Ground As Traders Focus On UK GDP Report
GBP/USD gains ground as traders react to the better-than-expected GDP data from the UK. GDP increased by 0.4% month-over-month in December, compared to analyst consensus of +0.1%.
If GBP/USD stays above the 1.2500 level, it will head towards the next resistance level at 1.2600 – 1.2615.
EUR/USD Price Forecast
Every new EUR/USD analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all EUR/USD forecastsUSD/CAD Tests New Lows
USD/CAD tests new lows as traders focus on U.S. tariff policy. Other commodity-related currencies are also moving higher in today’s trading session.
A move below the support at 1.4180 – 1.4200 will open the way to the test of the next support level at 1.4060 – 1.4080.
USD/JPY Pulls Back Amid Falling Treasury Yields
USD/JPY is moving lower as traders react to the pullback in Treasury yields. The yield of 2-year Treasuries declined towards the 4.30% level, while the yield of 10-year Treasuries settled below 4.55%.
In case USD/JPY settles below the 50 MA at 153.02, it will move towards the nearest support level at 151.50 – 152.00.
For a look at all of today’s economic events, check out our economic calendar.
