U.S. Dollar Rebounds From Session Lows As Trump Delays Tariffs On EU: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Index Tests The 99.00 Level

U.S. Dollar Index rebounded from recent lows as President Donald Trump extended the deadline for the EU to face 50% tariffs until July 9 after negotiations with EU Commission President Ursula von der Leyen.

In case U.S. Dollar Index climbs back above the support level at 99.00 – 99.20, it will move towards the 99.50 level.

EUR/USD Pulled Back From Session Highs

EUR/USD gained some ground in quiet trading. There are no important economic reports scheduled to be released in the EU today, so traders will stay focused on general market sentiment.

The nearest resistance level for EUR/USD is located in the 1.1410 – 1.1425 range. If EUR/USD climbs above the 1.1425 level, it will head towards the next resistance at 1.1555 – 1.1570 range.

GBP/USD Made An Attempt To Settle Above The 1.3600 Level

GBP/USD tested new highs as rally continued. The trading volume was thin due to Late May Bank Holiday in the UK.

In case GBP/USD settles above the resistance at 1.3620 – 1.3640, it will head towards the next resistance level at 1.3720 – 1.3740. RSI is in the overbought territory, so the risks of a pullback are increasing.

USD/CAD Rebounds From Multi-Month Lows

USD/CAD rebounds from session lows as traders take some profits off the table after the recent move.

If USD/CAD manages to settle back above the 1.3750 level, it will head towards the nearest resistance level at 1.3800 – 1.3820.

USD/JPY Gains Some Ground In Quiet Trading

USD/JPY moved higher as traders waited for additional catalysts. Currently, USD/JPY is trying to settle back above the 143.00 level.

In case this attempt is successful, USD/JPY will move towards the nearest resistance level at 143.50 – 144.00. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

For a look at all of today’s economic events, check out our economic calendar.