USDX (USD Index)
U.S. dollar index experienced a sharp drop, breaking cleanly below the daily SMA 200 around 98.97. Persistent selling momentum threatens to push price lower to print a new swing low and extend the broader bearish trend. If bears remain in control, the next technical downside targets sit around 98.40 and lower trendline support.
EUR/USD
EUR/USD staged another solid rebound off the 1.1580 support level and is currently trading near the daily SMA 200 at 1.1667. The pair remains locked in a range between these two key levels as the market awaits tomorrow’s U.S. jobs data. A clear breakout above the SMA 200 or below 1.1580 will likely dictate the next major directional trend.
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 turned upward today with a strong bullish candle that engulfed yesterday’s losses, pushing price to 1.3524. Having reversed before reaching 1.3450, the pair appears ready to resume its broader uptrend toward 1.3600. However, if price dips to test 1.3450 or the daily SMA 200 near 1.3409, it would present an attractive area for long entries.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY suffered a steep sell-off, falling cleanly below the daily SMA 200 to trade near 155.77. This decisive breakdown provides strong technical confirmation of a bearish trend continuation. Under current downside momentum, sellers are expected to drive price lower toward the 154.83 support level to print a fresh lower swing low.
Today’s critical levels to watch:
Support: 158.89, 155.50
Resistance: 160.00, 161.18, 162.00
AUD/USD
Today’s critical levels to watch:
Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7300, 00.7330