USDX (USD Index)
The U.S. dollar index continues to stick closely to the 100.00 level, despite showing a slight bearish reaction in today’s trading session. Because the market remains in this tight range, we have not seen any definitive change in the overall structure yet. Traders should remain patient, as the consolidation remains in progress while the market decides its next major move.
EUR/USD
EUR/USD is currently making another bullish attempt to clear the 1.1580 resistance level, but the pair has experienced another rejection there. This persistent selling pressure suggests that bulls are struggling to gain control. For the time being, the pair is trapped, trading inside the 1.1500 – 1.1580 area, and we are looking for a clear breakout to define the next trend.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820,1.2000, 1.2070
GBP/USD
GBP/USD staged a bullish attempt to break above the daily SMA 200, but the pair could not maintain the necessary pressure to hold those gains. It has since retreated, and the pair is now trading lower, back near its opening level. This failure to sustain momentum indicates lingering bearish sentiment in the pair.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250
Resistance: 1.3450, 1.3600
USD/JPY
The slow grind upward for USD/JPY continues, and the pair has officially climbed back above the pre-BOJ intervention level. Given the sensitivity of this area and the potential for volatility, we will continue to wait on the sidelines for now. We are monitoring the market closely for signs of exhaustion or further strength before considering a position.
Today’s critical levels to watch:
Support: 160.00, 158.89, 155.50, 155.00, 153.00, 151.00
Resistance: 161.18
AUD/USD
AUD/USD is currently flirting with the 0.7000 level as a crucial test of support is in progress. This psychological barrier is vital, and we are watching to see if the pair can find enough demand to bounce from this level. Conversely, if it breaks lower, it would confirm the continuation of the current bearish move.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160, 0.7300, 00.7330