USDX (USD Index)
The U.S. dollar index jumped sharply higher during today’s trading session. Specifically, this strong upward momentum followed the FOMC meeting and a major Trump announcement. Because of these powerful fundamental catalysts, buyers aggressively returned to the market. As a result, the index successfully broke above its recent consolidation range. Therefore, the immediate technical bias is now turning bullish. If the bullish momentum continues, the price could easily target the 100.00 level next after breakout above 99.00.
EUR/USD
EUR/USD is experiencing significant bearish pressure today. Specifically, the pair has dropped below the critical 1.1710 support level. Currently, the price is actively testing the daily SMA 200 as its next major support. If this dynamic level fails to hold, sellers will easily extend their downward push. Consequently, deeper losses toward 1.1580 become a strong possibility. Therefore, traders will closely watch the SMA 200 reaction for the next clue.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820,1.2000, 1.2070
GBP/USD
GBP/USD is facing noticeable bearish pressure during today’s session. However, the pair still remains contained within the established 1.3450 to 1.3600 range. Therefore, the broader sideways structure is currently intact. If sellers manage to force a decisive breakout below the 1.3450 floor, the technical picture changes completely. In that bearish scenario, the daily SMA 200 will quickly become the next major downside target.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY is showing strong bullish continuation today. Specifically, the pair is actively looking to test the previous swing high. If buyers manage to break above this resistance, further gains are highly likely. Consequently, the next major upside target sits at the 127.2% Fibonacci extension level. Specifically, this key target rests at the 161.18 mark. Therefore, the immediate trend remains firmly tilted to the upside.
Today’s critical levels to watch:
Support: 158.89, 155.50, 155.00, 153.00, 151.00
Resistance: 160.00, 161.18
AUD/USD
AUD/USD dropped sharply with strong bearish momentum today. As a result, the pair fell below the critical 0.7160 support level. Because of this aggressive sell-off, the bullish structure has suffered a major setback. If the bearish movement continues into tomorrow’s session, deeper losses are highly probable. Consequently, traders will likely see another correction develop. In that scenario, the 0.7000 psychological level becomes the next major downside target.
Today’s critical levels to watch:
Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7300