USDX (USD Index)
The U.S. dollar index closed lower yesterday and there is bearish continuation today. Bearish pressure persists, confirming that the broader bearish structure is still dominant. With no meaningful bullish reaction so far, the index is expected to continue moving lower toward the 97.43 level. Any short-term rebound is viewed as corrective unless the index manage to print new higher swing high or close above daily SMA 200.
EUR/USD
EUR/USD rebounded strongly from the 1.1710 support level, forming a bullish candlestick that fully engulfed the bodies of the previous four candles. This price action signals strong buying interest and a shift in short-term momentum. The pair continues to extend higher today and is expected to test the 1.1820 resistance in the near term. If the pair turn lower again and close below the 1.1710 level, then the trend might turn bearish.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD posted a strong bullish close yesterday, and bullish momentum continues today as price pushes decisively above the 1.3450 resistance. This breakout shifts the short-term bias firmly to the upside. If current conditions remain unchanged, the pair is expected to continue the bullish movement toward the 1.3600 target level. Any pullback toward the breakout zone will be monitored for bullish continuation signals.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY has turned lower and erased part of the gains from Friday’s post-BOJ rally. Short-term price action appears corrective, creating some uncertainty in the near term. However, the broader market structure remains bullish. Traders holding long positions will continue to maintain positions while placing protective stop orders below 154.41. A clear break below this level would signal shift to bearish trend.
Today’s critical levels to watch:
Support: 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD continues to rally and is approaching a point where it may soon print a new higher swing high, reinforcing the bullish structure. Buying momentum remains strong, and the pair is now on track toward the 0.6700 – 0.6750 target area. As long as price maintains its current trajectory, pullbacks are expected to remain shallow and corrective.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700, 0.6750, 0.6820