USDX (USD Index)

U.S. Dollar Index experienced significant volatility following the release of CPI data, but bears took control during the session and pushed price action lower from its early trading highs. The index has returned toward its opening level near the daily SMA 200 around 98.97. Price action is expected to remain largely flat or range-bound within current boundaries as market participants await next week’s highly anticipated FOMC monetary policy meeting.

EUR/USD

EUR/USD was pushed lower during session trading but once again staged a bounce from the key 1.1580 support level. With no decisive breakout occurring on either side, the current range-bound condition between 1.1580 support and overhead resistance near the daily SMA 200 is expected to persist in the near term. Traders should continue to monitor price action around these boundaries for breakout confirmation.

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 lower earlier in the day before bouncing back to trade above its opening level. The pair remains comfortably near the middle of its established 1.3450 – 1.3600 consolidation range, hovering close to the 1.3500 handle. Sideways price action is likely to continue as neither buyers nor sellers have demonstrated enough momentum to force a directional breakout.

Today’s critical levels to watch:

Support: 1.3450, 1.3330, 1.3300, 1.3250

Resistance: 1.3600

USD/JPY

USD/JPY failed to generate upward follow-through despite the previous bullish close. The pair is coming under renewed downward pressure but remains contained within yesterday’s trading range. A breakdown below the current range could signal further weakness toward lower support levels at 152.86 and 151.64.

Today’s critical levels to watch:

Support: 154.00, 150.00

Resistance: 155.50, 158.89

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