U.S. Dollar Index is losing ground despite higher-than-expected PPI. According to recent reports, global reciprocal tariffs will not take immediate effect, which is bearish for the U.S. dollar.
The nearest support level for U.S. Dollar Index is located in the 106.80 – 107.00 range. In case U.S. Dollar Index declines below the 106.80 level, it will head towards the next support, which is located in the 105.50 – 105.70 range.
EUR/USD is moving higher despite disappointing Euro Area Industrial Production report. The report indicated that Industrial Production declined by 1.1% month-over-month in December, compared to analyst forecast of -0.6%.
Currently, EUR/USD is trying to settle above the resistance at 1.0420 – 1.0435. In case this attempt is successful, EUR/USD will head towards the next resistance, which is located in the 1.0515 – 1.0530 range.
