U.S. Dollar Gains Ground As JOLTs Report Misses Estimates: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Moved Higher Despite Weak Job Market Data

U.S. Dollar Index gained some ground despite the disappointing JOLTs Job Openings report. The report showed that JOLTs Job Openings decreased from 7.48 million in February to 7.192 million in March, compared to analyst forecast of 7.48 million.

The nearest support level for U.S. Dollar Index is located in the 98.80 – 99.00 range. A move below the 98.80 level will push U.S. Dollar Index towards the next support at 97.50 – 97.70.

EUR/USD Remains Stuck Near The 1.1400 Level

EUR/USD is losing ground as traders react to Gfk Consumer Confidence report from Germany. The report showed that Consumer Confidence improved from -24.3 to -20.6, compared to analyst forecast of -26.

If EUR/USD climbs above the 1.1400 level, it will move towards the resistance at 1.1450 – 1.1470. On the support side, a move below 1.1350 will open the way to the test of the support at 1.1275 – 1.1290.

GBP/USD Tests Resistance At 1.3400 – 1.3420

GBP/USD continues its attempts to settle above the nearest resistance level, which is located in the 1.3400 – 1.3420 range.

In case GBP/USD manages to settle above the 1.3420 level, it will head towards the next resistance at 1.3485 – 1.3500. RSI is in the moderate territory, and there is enough room to gain additional upside momentum in the near term.

USD/CAD Attempts To Settle Above 1.3850

USD/CAD is swinging between gains and losses in choppy trading. The strong pullback in the oil markets did not put material pressure on the Canadian dollar today.

In case USD/CAD settles above the 1.3850 level, it will head towards the nearest resistance at 1.3930 – 1.3950.

USD/JPY Tests Support At 141.50 – 142.00

USD/JPY tests support at 141.50 – 142.00 as traders focus on the continuation of the pullback in Treasury yields.

A move below the 141.50 level will push USD/JPY towards the next support level at 139.50 – 140.00.

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