Category: Forex News, News

U.S. Dollar Tests New Highs As Traders Focus On ISM Services PMI: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

DXY 051026 4h Chart

U.S. Dollar Index gains ground as traders react to ISM Services PMI report. The report showed that ISM Services PMI declined from 55.4 in August to 54.9 in September, compared to analyst forecast of 55. Numbers above 50 show expansion. The weaker-than-expected report did not put any pressure on the American currency.

Currently, U.S. Dollar Index is trying to settle above the resistance level at 102.35 – 102.50. In case U.S. Dollar Index manages to settle above the 102.50 level, it will head towards the next resistance, which is located in the 103.35 – 103.50 range.

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