U.S. Dollar Stays Close To Multi-Month Highs: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Index Remains Stuck Above The 100.00 Level

U.S. Dollar Index is swinging between gains and losses as traders react to Dallas Fed Manufacturing Index report. The report indicated that Dallas Fed Manufacturing Index declined from -5.0 in October to -10.4 in November, compared to analyst forecast of -1.

In case U.S. Dollar Index manages to settle above the 100.15 level, it will head towards the resistance at 101.00 – 101.15.

EUR/USD Attempts To Rebound

EUR/USD gained some ground despite the weaker-than-expected Ifo Business Climate report from Germany. The report showed that Ifo Business Climate declined from 88.4 in October to 88.1 in November, compared to analyst forecast of 88.5.

A move above the 1.1550 level will open the way to the test of the resistance at 1.1585 – 1.1600.

GBP/USD Tests The 1.3100 Level

GBP/USD continues its attempts to settle above the 1.3100 level as traders wait for additional catalysts.

In case this attempt is successful, GBP/USD will move towards the nearest resistance level, which is located in the 1.3145 – 1.3160 range.

USD/CAD Gains Ground Despite Rising Commodity Markets

USD/CAD climbed above the resistance at 1.4080 – 1.4095 and made an attempt to settle above the 1.4120 level. RSI is in the moderate territory, and there is plenty of room to gain upside momentum in the near term.

If USD/CAD settles above 1.4120, it will head towards the resistance level at 1.4150 – 1.4165.

USD/JPY Moves Higher As Traders Focus On BoJ Policy Outlook

USD/JPY rebounded after pullback as traders remained focused on dovish BoJ policy outlook. From the technical point of view, USD/JPY is moving towards the nearest resistance at 158.00 – 158.50.

In case USD/JPY manages to settle above the 158.50 level, it will head towards the 160.00 level.

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