Earlier today, the Labor Department reported that core inflation (without excludes volatile food and fuel costs) increased by 0.1%, signaling that that the U.S. economy may be able to sustain higher interest rates. In this environment, the U.S. dollar reversed against the yen and moved higher, reaching the resistance zone once again. Will it manage to stop currency bulls in the coming days?

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When determining the trajectory of the main currency pairs, the key thing to keep in mind at this time is the USD Index and the possible changes in it. Consequently, this is what we focus on in today’s alert.

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Earlier today, the USD Index rebounded and re-approached the recent highs as investors awaited the Janet Yellen’s speech later in the day. What impact did this increase have on the technical picture of EUR/USD, USD/JPY and USD/CHF?

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Earlier today, the Australian dollar extended losses against its U.S. counterpart after disappointing data from China (the report showed that China’s exports dropped 10.0% in Sep, while imports declined by 1.9%). As a result, AUD/USD slipped to its lowest level since Sep 19, approaching important support zone. Will it manage to stop currency bears in the coming days?

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Although today’s data showed that euro zone industrial production increased in Aug, beating analysts‘ expectations, the euro extended losses against the greenback and dropped to the next support area. Will it anage to stop currency bears in the coming days?

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