U.S. Dollar Index rebounded from session lows as traders reacted to the better-than-expected ISM Services PMI report. The report indicated that ISM Services PMI increased from 50.8 in March to 51.6 in April, compared to analyst forecast of 50.6.
The nearest resistance level for U.S. Dollar Index is located in the 100.20 – 100.40 range. In case U.S. Dollar Index manages to settle above the 100.40 level, it will move towards the next resistance at 101.40 – 101.60.
USD/CAD Is Stuck Near 1.3800.
USD/CAD is stuck near the support level at 1.3800 – 1.3820 despite the strong pullback in the oil markets.
In case USD/CAD climbs above the 50 MA at 1.3840, it will head towards the resistance level at 1.3930 – 1.3950.
