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U.S. Dollar Is Flat As Traders React To Housing Market Data: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

By:
Vladimir Zernov
Published: Mar 18, 2025, 16:40 GMT+00:00

Key Points:

  • EUR/USD tests resistance at 1.0920 - 1.0935 as traders react to ZEW Economic Sentiment Index report.
  • USD/CAD moves higher as traders focus on Canada's inflation reports.
  • USD/JPY is trying to settle above the 149.50 level.
EUR/USD, GBP/USD, USD/CAD, USD/JPY
In this article:

U.S. Dollar Remains Stuck Near Support At 103.20 – 103.40

DXY
DXY 180325 4h Chart

U.S. Dollar Index is mostly flat as traders react to housing market data. Housing Starts increased by +11.2% month-over-month in February, compared to analyst forecast of -1.9%. Building Permits declined by -1.2%, while analysts expected that they would decrease by -0.2%.

In case U.S. Dollar Index settles below the support at 103.20 – 103.40, it will head towards the next support level, which is located in the 102.00 – 102.20 range.

EUR/USD Attempts To Settle Above The 1.0935 Level

EUR/USD
EUR/USD 180325 4h Chart

EUR/USD gained some round as traders reacted to the better-than-expected Euro Area ZEW Economic Sentiment Index report. The report showed that Economic Sentiment increased from 24.2 in February to 39.8 in March, compared to analyst forecast of 39.6.

A move above the resistance at 1.0920 – 1.0935 will push EUR/USD towards the next resistance level, which is located in the 1.1030 – 1.1050 range.

GBP/USD Is Mostly Flat Amid Lack Of Strong Catalysts

GBP/USD
GBP/USD 180325 4h Chart

GBP/USD is flat as traders wait for additional catalysts. From a big picture point of view, traders are not ready for big moves ahead of Fed decision, which will be released tomorrow.

In case GBP/USD settles above the 1.3000 level, it will head towards the resistance level at 1.3050 – 1.3070.

USD/CAD Is Moving Away From Recent Lows

USD/CAD
USD/CAD 180325 4h Chart

USD/CAD attempts to rebound after the recent pullback as traders focus on inflation data from Canada. Inflation Rate increased from 1.9% in January to 2.6% in February, compared to analyst forecast of 2.2%. Core Inflation Rate grew from 2.1% to 2.7%, while analysts expected that it would increase to 2.2%.

If USD/CAD climbs above the resistance at 1.4330 – 1.4350, it will head towards the next resistance at 1.4485 – 1.4500.

USD/JPY Attempts To Settle Above 149.50

USD/JPY
USD/JPY 180325 4h Chart

USD/JPY is moving higher as traders prepare for tomorrow’s BoJ Interest Rate Decision. Analysts expect that BoJ will leave the interest rate unchanged at 0.5%.

In case USD/JPY stays above the resistance at 149.00 – 149.50, it will head towards the next resistance level at 152.00 – 152.50.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.

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