USDX (USD Index)
The U.S. Dollar Index continues to trade under bearish pressure as it remains near the daily SMA 200. The index has yet to show a strong recovery, with the bear maintaining control in the near term. The ongoing test of this dynamic support level will be crucial in determining the next direction. As long as the index stays below key resistance levels, downside pressure may persist. However, a sustained hold above the daily SMA 200 could provide temporary stabilization. For now, the market remains in a testing phase, with traders closely watching how price reacts around current levels.
EUR/USD
EUR/USD extended its bullish movement by breaking above the 1.1710 level, signaling continued upward pressure. The pair is now trading above a key resistance zone, suggesting that buyers are gaining control in the near term. However, confirmation is still required, and traders will look for a daily close above this level to validate the breakout. If sustained, the bullish momentum could continue toward higher resistance levels. Otherwise, failure to hold above the breakout area may lead to a pullback.
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 climbed above the 1.3450 level and is now challenging the upper boundary of the 1.3250 – 1.3450 range. This movement indicates increasing bullish pressure, with price attempting to break out from the consolidation phase. A confirmed breakout and close above this range would signal bullish continuation and open the path for further upside. On the other hand, failure to sustain above the resistance could result in the pair returning into the range. Traders will wait for confirmation before establishing directional bias.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3450
USD/JPY
USD/JPY shows little change, continuing to trade not far from the 160.00 level. The pair remains in a consolidation phase, reflecting a lack of strong directional momentum in the short term. Price action suggests that the market is waiting for a catalyst before making a decisive move. A breakout above resistance could extend the bullish trend, while a move below support may trigger a deeper correction. For now, the pair remains range-bound.
Today’s critical levels to watch:
Support: 158.89, 155.50, 155.00, 153.00, 151.00
Resistance: 160.00, 161.18
AUD/USD
AUD/USD traded nearly flat for the day, moving within the previous session’s range. The pair is currently fluctuating between the 0.7000 support and the 0.7160 resistance, indicating a consolidation phase. Despite the lack of strong movement, the overall structure still allows for a potential upward continuation. A breakout above the range could trigger further bullish momentum, while failure to do so may keep the pair within sideways conditions. Traders will look to next week’s price action for clearer direction.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160