The US Dollar Index targets 102.08 on Nov 6, 2026, while EUR/USD hovers near 1.1197 and GBP/USD near 1.3423 ahead of the US jobs report.

On Nov 6, 2026, the US Dollar Index (DXY) moved toward the 102.08 level as traders priced in the upcoming US non‑farm payroll (NFP) report. The move mattered because a break above 102.08 would reinforce a recovery toward 102.49, while a fall below 101.535 would invalidate the current bullish setup. At the same time, EUR/USD and GBP/USD were testing key technical zones ahead of the same data release.

DXY technical setup and the NFP test

The DXY reclaimed the 101.535 pivot on the four‑hour chart and rose to 101.762, breaking the descending channel that had constrained it. Resistance levels sit at 102.080 and 102.493, while support lies at 101.535 and 101.097. The RSI moved above the 50 mark, suggesting growing buying pressure, but the index still needs a clean close above 102.080 to confirm a sustained rally.

The upcoming US jobs data will test whether the labor market remains strong enough to justify further Federal Reserve hikes. A stronger payrolls figure could push the DXY higher, while weaker numbers might pull the index back toward its support zone.

EUR/USD under pressure near 1.1197

EUR/USD traded around 1.11969 on the four‑hour timeframe, slipping below the 1.12196 pivot. The pair’s next support is at 1.11755, with a deeper level at 1.11361. Resistance starts at 1.12196 and then 1.12696. The RSI fell below 50, confirming waning momentum for the euro.

Eurozone flash inflation for October was 4.0% YoY, up from 3.8% in September, while core inflation held at 2.5%. These figures keep the European Central Bank under pressure to consider a December rate hike, making the euro sensitive to any US data that could shift risk sentiment.

Read also: Usd/jpy recovers as usd steadies before nfp

GBP/USD anchored at the 1.3406 pivot

GBP/USD hovered near 1.3423, with the 1.3406 pivot acting as immediate support. A break below that level would open the path to 1.3359, while a retest above 1.3448 could revive upside toward 1.3502. The RSI also dropped below 50, indicating fading buying strength.

The Bank of England recently raised its Bank Rate to 4% but left further moves conditional on inflation data. With UK inflation expected to peak around 5% by mid‑2027, the pound remains vulnerable to any shift in US labor market expectations that could affect global risk appetite.

What traders should watch next

Key upcoming events include the US NFP report later on Nov 6, Eurostat’s full inflation release for October, and any BoE commentary on the conditional stance of future hikes. Technical traders will monitor whether the DXY can close above 102.080, whether EUR/USD can hold above the 1.12196 pivot, and whether GBP/USD can defend the 1.3406 level.

• US NFP data (Nov 6, 2026) – primary catalyst for DXY, EUR/USD and GBP/USD
• Eurozone October inflation flash (4.0% YoY) – ECB policy pressure
• BoE Bank Rate at 4% – conditional future tightening

Frequently asked questions

Official data sources

• U.S. Bureau of Labor Statistics
• European Central Bank (ECB)
• Federal Reserve (Fed)

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This article is compiled from international market news for information only. It is not investment advice.