U.S. Dollar Rallies: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Tests New Highs After Non Farm Payrolls Report

U.S. Dollar Index rallied as traders reacted to Non Farm Payrolls report. The report indicated that U.S. economy added 254,000 jobs in September, compared to anlayst consensus of 140,000. Unemployment Rate declined from 4.2% in August to 4.1% in September, while analysts expected that it would remain unchanged.

U.S. Dollar Index has recently moved above the resistance at 102.00 – 102.20 and is heading towards the next resistance level at 103.40 – 103.60.

EUR/USD Tests New Lows As Traders Focus On U.S. Jobs Data

EUR/USD found itself under strong pressure as traders focused on the better-than-expected Non Farm Payrolls report from the U.S.

If EUR/USD settles below the 1.0950 level, it will head towards the next support, which is located in the 1.0900 – 1.0915 range. RSI is in the oversold territory, so the risks of a rebound are increasing.

GBP/USD Attempts To Settle Below 1.3120

GBP/USD is swinging between gains and losses after the release of U.S. job market data.

From the technical point of view, GBP/USD continues its attempts to settle below the support at 1.3120 – 1.3140. If GBP/USD settles below 1.3120, it will move towards the next support level at 1.3000 – 1.3020.

USD/CAD Gains Ground Despite Rally In The Oil Markets

USD/CAD is moving higher despite rally in the oil markets as traders focus on general strength of the U.S. dollar.

USD/CAD needs to settle above the strong resistance at 1.3600 – 1.3620 to gain additional upside momentum. RSI is close to the overbought territory, but there is enough room to gain momentum in case the right catalysts emerge.

USD/JPY Moved Towards 149.00 As Treasury Yields Jumped

USD/JPY rallied as traders focused on rising Treasury yields. The yield of 2-year Treasuries jumped above 3.90%, while the yield of 10-year Treasuries settled above the 3.95% level.

USD/JPY climbed above the previous resistance at 146.00 – 146.50 and is heading towards the next resistance level at 149.50 – 150.00. RSI is in the overbought territory, so the risks of a pullback are increasing.

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