U.S. Dollar Is Flat At The Start Of The Week: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Is Flat As Traders Wait For Catalysts

U.S. Dollar Index is flat amid lack of catalysts. There are no important economic reports scheduled to be released in the U.S. today, so traders will stay focused on general market sentiment.

U.S. Dollar Index has recently made an attempt to settle above the resistance at 106.00 – 106.15 but failed to develop sufficient upside momentum. In case U.S. Dollar Index settles below the 105.70 level, it will move towards the next support, which is located in the 104.30 – 104.50 range.

EUR/USD Is Moving Towards The 1.0600 Level

EUR/USD gained some ground despite rising Treasury yields. RSI is in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge.

If EUR/USD climbs above the 1.0600 level, it will move towards the nearest resistance level at 1.0620 – 1.0640.

GBP/USD Attempts To Settle Above 1.2800

GBP/USD found support near the 1.2715 level and moved towards the 1.2800 level.

In case GBP/USD manages to settle above 1.2800, it will gain additional upside momentum and move towards the next resistance level at 1.2850 – 1.2870.

USD/CAD Pulled Back Amid Rising Commodity Markets

USD/CAD pulled back from recent highs as traders focused on the strong rally in commodity markets. Oil is up by more than 2% as traders react to the recent developments in Syria.

If USD/CAD settles back below the 1.4100 level, it will move towards the 50 MA at 1.4051.

USD/JPY Rebounded Towards The 151.00 Level

USD/JPY did not manage to settle below the 150.00 level and gained upside momentum. Currently, USD/JPY is trying to settle above the 151.00 level.

In case this attempt is successful, USD/JPY will head towards the nearest resistance, which is located in the 153.00 – 153.50 range.

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