USD/CAD, USD/JPY Seen as Most Resilient USD-Pairs
- EURUSD, GBPUSD maintain uptrends after tests of supports.
- USDCAD, USDJPY maintain breakout levels after retests.
- See the May forex seasonality report.
The US Dollar is faring better against some currencies (AUD, CAD, JPY) rather than others, which have proven to be more resilient (EUR, GBP). Nevertheless, the bottoming potential in the USDOLLAR Index persists, pulling into focus today's US inflation data as a potentially important catalyst.
See the above video for technical considerations in EURUSD, GBPUSD, USDJPY, USDCAD, and the USDOLLAR Index.
Read more: USD Selloff Post-FOMC Minutes May Not Last Long
--- Written by Christopher Vecchio, Currency Strategist
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.