U.S. Dollar Index is losing ground as traders react to Initial Jobless Claims report. The report indicated that 222,000 Americans filed for unemployment benefits in a week, in line with analyst consensus.
In case U.S. Dollar Index settles below the 50 MA at 99.30, it will move towards the nearest support level, which is located in the 98.80 – 99.00 range.
USD/CAD is mostly flat as traders wait for additional catalysts. Other commodity-related currencies are moving higher in today’s trading session.
The nearest resistance level for USD/CAD is located in the 1.3930 – 1.3950 range. A move above the 1.3950 level will push USD/CAD towards the resistance at 1.4030 – 1.4050.
USD/CAD 250425 4h Chart
