U.S. Dollar Is Mostly Flat As Traders Wait For Catalysts
U.S. Dollar Index is mostly flat as traders wait for the end of the U.S. government shutdown.
If U.S. Dollar Index manages to settle below the 99.50 level, it will head towards the nearest support, which is located in the 98.85 – 99.00 range.
EUR/USD Tests Resistance At 1.1585 – 1.1600
EUR/USD continues its attempts to settle above the resistance at 1.1585 – 1.1600 as traders react to the Wholesale Prices report from Germany. The report indicated that Wholesale Prices increased by +0.3% month-over-month in October, compared to analyst consensus of +0.1%.
If EUR/USD settles above the 1.1600 level, it will head towards the next resistance, which is located in the 1.1655 – 1.1670 range.
GBP/USD Pulled Back Below The 1.3150 Level
GBP/USD pulled back after an unsuccessful attempt to settle above the resistance at 1.3145 – 1.3160. RSI remains in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.
In case GBP/USD settles below the 50 MA at 1.3115, it will move towards the support level at recent lows at 1.3015 – 1.3030.
EUR/USD Price Forecast
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See all EUR/USD forecastsUSD/CAD Retreats As Precious Metals Rally
USD/CAD moved lower as traders focused on the strong performance of precious metals markets. The sell-off in the oil markets did not put pressure on the Canadian dollar today.
A successful test of the support level at 1.3975 – 1.3990 will open the way to the test of the next support at 1.3885 – 1.3900.
USD/JPY Tests New Highs
USD/JPY attempts to settle above the resistance at 154.50 – 155.00 despite falling Treasury yields.
In case USD/JPY manages to settle above the 155.00 level, it will gain additional upside momentum and move towards the next resistance at 158.00 – 158.50.
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