U.S. Dollar Is Mostly Flat On Black Friday: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Moved Away From Session Lows

U.S. Dollar Index  managed to rebound from session lows and is trying to settle back above the support at 106.00 – 106.15.

In case this attempt is successful, U.S. Dollar Index will move towards the 50 MA at 106.63.

EUR/USD Pulled Back After Weak Retail Sales Report From Germany

EUR/USD pulled back as traders focused on the Euro Area inflation report. Inflation Rate increased from 2% in October to 2.3% in November, compared to analyst consensus of 2.3%. Today, traders also had a chance to take a look at the Retail Sales data from Germany. The report showed that Retail Sales declined by 1.5% month-over-month in October, compared to analyst forecast of -0.3%.

The nearest support level for EUR/USD is located in the 1.0525 – 1.0540 range. A move below the 1.0525 level will push EUR/USD towards the next support level at 1.0435 – 1.0450.

GBP/USD Tested Resistance At 1.2700 – 1.2715

GBP/USD continues its attempts to settle above the nearest resistance level at 1.2700 – 1.2715. RSI is in the moderate territory, and there is enough room to gain momentum in case the right catalysts emerge.

If GBP/USD manages to settle above 1.2715, it will head towards the next resistance, which is located in the 1.2850 – 1.2870 range.

USD/CAD Attempts To Rebound After Pullback

USD/CAD gained some ground despite the rally in precious metals markets. Other commodity-related currencies moved higher in today’s trading session.

In case USD/CAD settles above the 1.4050 level, it will head towards the nearest resistance level, which is located in the 1.4100 – 1.4120 range.

USD/JPY Pulled Back As Treasury Yields Declined

USD/JPY tests support at 150.00 – 150.50 as traders focus on the pullback in Treasury yields.

If USD/JPY declines below the 150.00 level, it will move towards the next support level at 147.00 – 147.50.

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