USDX (USD Index)
The U.S. Dollar Index managed to close bullish during the previous trading session, signaling that bullish pressure is gradually returning after the recent recovery from the lows. The index is now pressing higher to test 99.00. If the bullish momentum continues, the index could attempt to move further toward the 100.00 resistance area, which remains a major barrier from the previous range. However, failure to break above the nearby resistance could keep the index trading sideways in the near term while the market waits for stronger catalysts
EUR/USD
EUR/USD faced strong rejection from the daily SMA 200, which continues to act as an important resistance level for the pair. The rejection pushed the pair lower, suggesting that bearish pressure remains present in the short term. With the pair now trading below the moving average again, the market may attempt to retest the 1.1580 support level. If that level fails to hold, further downside movement toward 1.1500 could occur. For the bullish outlook to return, EUR/USD would need to climb back above the daily SMA 200 and reclaim nearby resistance levels.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820,1.2000, 1.2070
GBP/USD
GBP/USD faced rejection from the 1.3450 resistance level as well as the descending bearish trend line. The rejection triggered an initial push below yesterday’s low, indicating that sellers are still active around the resistance area. However, the pair has since rebounded back near its opening level, suggesting that the market has not yet confirmed a clear directional move. This type of price action often indicates temporary indecision as traders wait for stronger momentum. For now, traders may wait for further confirmation.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250
Resistance: 1.3450, 1.3600, 1.3835, 1.40000
USD/JPY
USD/JPY closed the previous session with a bullish candle and continued moving higher afterward, confirming the continuation of the broader upward trend. The pair has now printed a new higher high, reinforcing the bullish market structure. If the upward momentum persists, the pair could attempt to move toward the resistance zone around 159.00 level.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD is currently testing the 0.7160 resistance level after extending its recent rally. The pair has already printed a new higher high, suggesting that bullish momentum remains strong. If the pair manages to break above the 0.7160 resistance area, the upward movement could extend further toward the 0.7300 level. However, failure to break the resistance could trigger a temporary pullback as traders take profits after the recent rally.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160