U.S. Dollar Remains Under Pressure
U.S. Dollar Index tests new lows as traders react to inflation data. Inflation Rate declined from 2.8% in February to 2.4% in March, compared to analyst forecast of 2.6%. Tariff worries put additional pressure on the American currency.
U.S. Dollar Index settled below the support at 101.70 – 101.90 and is moving towards the next support at 100.20 – 100.40. RSI is close to the oversold territory, but there is enough room to gain additional downside momentum in the near term.
EUR/USD Tests New Highs
EUR/USD tests new highs as traders react to U.S. inflation data and monitor the tariff drama.
Currently, EUR/USD is trying to settle above the resistance level at 1.1185 – 1.1200. In case this attempt is successful, EUR/USD will move towards the next resistance, which is located in the 1.1275 – 1.1290 range.
GBP/USD Tests Resistance At 1.2980 – 1.3000
GBP/USD is moving higher as traders focus on general weakness of the American currency.
A move above the resistance at 1.2980 – 1.3000 will push GBP/USD towards the next resistance level at 1.3080 – 1.3100.
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 Despite Falling Oil Markets
USD/CAD pulls back as demand for commodity-related currencies is rising despite the strong sell-off in the oil markets.
From the technical point of view, USD/CAD managed to settle below the support at 1.4060 – 1.4080 and is moving towards the next support level, which is located in the 1.3930 – 1.3950 range.
USD/JPY Is Moving Towards The Support At 143.50 – 144.00
USD/JPY is losing ground as pullback continues. The yield of 2-year Treasuries is moving lower, which is bearish for USD/JPY.
In case USD/JPY manages to settle below the support level at 143.50 – 144.00, it will move towards the next support at 141.50 – 142.00.
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