USDX (USD Index)
The U.S. Dollar Index currently presents a neutral technical picture as it continues to trade slightly below the daily SMA 200. While the index has found some stability today, it remains firmly trapped within an established consolidation range between 97.50 and 99.00. Sellers are keeping an eye on the 97.43 Fibonacci level as a potential downside target. For now, the next significant directional move will depend entirely on the breakout direction from this 97.50 – 99.00 zone. A decisive push back above the SMA 200 and 99.00 would revitalize the bulls, while a breakdown below the range floor and Fibonacci support would confirm a bearish continuation.
EUR/USD
EUR/USD edged slightly lower today, following yesterday’s bullish close. Currently, the pair has bounced sharply enough from the daily SMA 200 to recapture the 1.1710 pivot and keep immediate bearish hopes at bay. However, for a clear directional signal, buyers must force a daily close above 1.1820 to confirm a bullish resolution. For now, the pair might continue to consolidate inside the 1.1710 – 1.1820 range.
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
The British pound made another push higher today, but the 1.3600 resistance continues to cap the advance. The price action resulted in an “inside bar” formation, highlighting the market’s lack of conviction ahead of the NFP news. The 1.3450 – 1.3600 range remains firmly respected, keeping the pair locked in consolidation. A breakout above 1.3600 is needed for a bullish resolution; conversely, a slide below 1.3450 would confirm a bearish breakdown and signal that the sellers have regained control.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
While USD/JPY traded slightly higher during today’s session, the broader technical outlook remains heavy following yesterday’s sharp bearish move. The pair remains under intense pressure after printing fresh lower lows, and the primary expectation is for the downtrend to eventually resume. The daily SMA 200 remains the clear downside target and is rapidly approaching. However, the immediate direction will depend on the evolving market situation and tomorrow’s data; as long as the pair stays below recent broken support, the path of least resistance points lower toward the 155.00 handle.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00, 161.18
AUD/USD
AUD/USD continues its bullish run, extending gains well beyond the 0.7160 support floor and closing in on the 0.7300 handle. While the pair saw a slight dip today, the broader momentum remains firmly in the bulls’ favor. If the price continues to soften in a pre-NFP pullback, 0.7160 is the critical floor to watch for a potential “buy the dip” entry. On the upside, buyers remain focused on the 0.7300 – 0.7330 resistance area as the primary target for this current leg higher.
Today’s critical levels to watch:
Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7300, 00.7330