USDX (USD Index)
U.S. Dollar Index experienced a major technical breakdown today after its recent period of tight consolidation, plunging decisively below the 100.00 psychological barrier. Price action has now fallen below the daily SMA 200, signaling a significant bearish trend shift and pointing toward further weakness ahead. Traders will likely look to position for continued downside movement, using any short-term retracements as opportunities to align with the new bearish momentum.
EUR/USD
EUR/USD surged today, printing a massive breakout above the daily SMA 200 with strong bullish momentum. The pair has clearly escaped its previous consolidation zone and is now firmly on a path toward the 1.1710 upside target. If the market initiates a temporary bearish correction to shake out early buyers, traders can look to the newly broken daily SMA 200 as a key support level to watch for fresh long entries.
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 continued its aggressive upward climb during today’s session, successfully reaching the major 1.3600 resistance level. With the broader U.S. Dollar Index showing severe weakness, the bullish bias remains firmly intact. Market participants will be looking for a confirmed daily close above this barrier, which could drive the pair toward further upside targets at 1.3835 and beyond.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY has resumed its primary bearish move and is currently trading heavily near the daily SMA 200. The pair is showing clear signs of top-heavy price action following its recent corrective bounce. We expect the market to immediately break lower through this moving average, continuing its downward trajectory to print a new lower swing low and offering traders a clear trend continuation setup.
Today’s critical levels to watch:
Support: 155.50
Resistance: 158.89, 160.00, 161.18, 162.00
AUD/USD
AUD/USD maintained its steady bullish trajectory today, continuing to grind higher without any major signs of exhaustion. The pair remains perfectly on track to test its main upside objective at the 0.7160 resistance level. As long as price action continues to print higher highs, traders will likely maintain their long biases and use any shallow dips as opportunities to join the prevailing trend.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160, 0.7300, 00.7330