U.S. Dollar Rises After Michigan Sentiment Beat Expectations
The U.S. Dollar showed resilience ahead of the weekend, gaining modest ground following the release of a stronger-than-expected Michigan Consumer Sentiment report. The index dipped from 57.0 in March to 52.2 in April, but still topped analyst forecasts of 50.8 — giving the greenback a slight boost.
The U.S. Dollar Index (DXY) remains in focus. If it slips below the 99.50 level, traders will eye the next key support range between 98.80 and 99.00.
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EUR/USD Bounces From Session Lows on Dollar Reaction
Key Resistance Levels: 1.1392, 1.1450 – 1.1470
The EUR/USD pair recovered from intraday lows as traders responded to U.S. macro data and ongoing concerns surrounding U.S.-China trade tensions.
The pair is currently testing the 50-day moving average (1.1392). A successful move above this level could pave the way toward the 1.1450 – 1.1470 resistance zone. Should bullish momentum continue, EUR/USD may even test the upper resistance near 1.1550 – 1.1570.
GBP/USD Hovers Near Key Support After UK Retail Sales Beat
Support Holding: 1.3300 – 1.3320 | Upside Target: 1.3400 – 1.3420
GBP/USD remains largely range-bound despite a surprise beat in UK retail sales. March figures showed a +0.4% month-over-month rise, sharply contrasting with expectations of a -0.4% decline.
If buyers can push the pair above 1.3320, the next target lies at 1.3400 – 1.3420. However, failure to break out may keep the pair consolidating near support levels.
USD/CAD Flat Despite Commodity Weakness
Key Levels to Watch: 1.3850 Support, 1.3859 50 MA
The USD/CAD pair trades flat, unaffected by the broader pullback in precious metals and weakness in commodity-linked currencies. It currently tests the 50-day moving average at 1.3859, with minor pressure to the downside.
A sustained drop below 1.3850 could open the door to the next support zone between 1.3800 and 1.3820.
Canadian Dollar Holds Steady as Investors Weigh U.S. Tariff Signals and Rate Cuts
Donald Trump Hints at 25% Tariffs on Canadian Imports Starting February 1
Could U.S. Tariffs Push the Canadian Dollar to Record Lows? Loonie on the Edge
Canada’s Rising Threat to Cut U.S. Electricity Supply Due to Tariffs
USD/JPY Eyes Breakout Above 144.00 As Rally Continues
Next Resistance: 146.00 – 146.50
Despite a dip in Treasury yields, USD/JPY continues to gain, attempting to clear the critical 143.50 – 144.00 resistance band.
If buyers maintain control and establish a firm close above 144.00, the pair may head toward the next resistance near 146.00 – 146.50, extending the bullish trend.
Final Thoughts: Will the Dollar Hold Its Ground Next Week?
With better-than-expected U.S. consumer sentiment and mixed performance among major currency pairs, the greenback has managed to gain traction heading into the weekend. Next week’s key data releases and any fresh geopolitical developments — particularly in U.S.-China trade talks — could determine whether this momentum continues.