U.S. Dollar Dives From Session Highs: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Retreats As Court Blocks Tariffs

U.S. Dollar Index pulls back as traders focus on U.S. Court of International Trade decision to block Trump’s tariffs. According to recent reports, the Trump administration may ask the U.S. Supreme Court to intervene on Friday.

The nearest support level for U.S. Dollar Index is located in the 99.00 – 99.20 range. If U.S. Dollar Index declines below the 99.00 level, it will head towards the next support at 98.00 – 98.20.

EUR/USD Rallied Above The 1.1350 Level

EUR/USD gains ground as traders focus on U.S. court decision. There are no important economic reports scheduled to be released today, so traders will stay focused on general market sentiment.

In case EUR/USD settles above the resistance level at 1.1410 – 1.1425, it will move towards the next resistance level at 1.1555 – 1.1570.

GBP/USD Attempts To Settle Above The 1.3500 Level

GBP/USD moved towards the 1.3500 level as traders focused on general weakness of the American currency.

A move above the 1.3500 level will push GBP/USD towards the resistance level at 1.3620 – 1.3640.

USD/CAD Tests Support At 1.3800 – 1.3820

USD/CAD tests support at 1.3800 – 1.3820 as traders focus on rising precious metals markets. Other commodity-related currencies are also moving higher in today’s trading session.

If USD/CAD settles below the 1.3800 level, it will move towards the next support at 1.3650 – 1.3665.

USD/JPY Is Under Pressure As Treasury Yields Fall

USD/JPY pulls back as traders focus on falling Treasury yields. The yield of 2-year Treasuries declined below the 3.95% level, whiel the yield of 10-year Treasuries settled below 4.45%.

The nearest support level is located in the 143.50 – 144.00 range. If USD/JPY settles below the 143.50 level, it will head towards the next support at 140.00 – 140.50.

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