USD Forecast: Insights on EUR/USD, USD/JPY, and AUD/USD Movements

Thursday, 7 November 2024, 20:38

USD forecast indicates potential movements in EUR/USD, USD/JPY, and AUD/USD. As interest rate decisions loom, markets react cautiously but expect volatility. Keep an eye on key support levels.
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USD Forecast: Insights on EUR/USD, USD/JPY, and AUD/USD Movements

USD Forecast Overview

The USD forecast highlights potential market movements for major pairs including EUR/USD, USD/JPY, and AUD/USD as we approach critical economic events.

EUR/USD Technical Analysis

The euro has seen a slight rally during early trading, amidst noisy market behavior. The upcoming Federal Reserve interest rate decision could cause fluctuations in the dollar. Currently, if the euro breaks below 1.06, it could signal further downside potential.

USD/JPY Technical Analysis

In the USD/JPY pair, the US dollar slightly retreated against the Japanese yen, testing the significant 155 yen level. This level has psychological implications, prompting a keen interest in potential carry trades on short-term pullbacks.

AUD/USD Technical Analysis

The AUD/USD has shown solid gains, nearing the 200-day EMA. Despite this, it remains in a consolidation phase, facing resistance at key levels. The potential for upward movement appears limited unless unexpected actions emerge from the Federal Reserve.

Economic Events to Watch

For a comprehensive overview of today's economic events, refer to our economic calendar.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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