U.S. Dollar Index tests new lows as traders focus on the disappointing Retail Sales report. The report indicated that Retail Sales declined by 0.9% month-over-month in January, compared to analyst consensus of -0.1%.
Currently, U.S. Dollar Index is trying to settle below the support at 106.80 – 107.00. In case this attempt is successful, U.S. Dollar Index will head towards the next support level, which is located in the 105.50 – 105.70 range.
GBP/USD Tests Resistance At 1.2600 – 1.2615
GBP/USD is moving higher as traders focus on U.S. economic data. Currently, GBP/USD is trying to settle above the resistance at 1.2600 – 1.2615.
If GBP/USD climbs above the 1.2615 level, it will move towards the next resistance level at 1.2715 – 1.2730.
