USDX (USD Index)
The U.S Dollar Index continues its decline and is now trading below the daily SMA 200, signaling increasing bearish pressure. As long as there is no immediate bullish reaction or reclaim of the moving average, the downside momentum could extend further. Traders will monitor whether the current level can hold or if the breakdown leads to a continuation lower.
EUR/USD
EUR/USD opened lower near the daily SMA 200 but quickly found strong buying interest. The pair has printed a new higher high, indicating bullish continuation. The current price action suggests buyers are in control, with potential to extend toward the 1.1820 resistance level. Traders will watch for sustained strength above the moving average to confirm continuation. Under current situation, we don’t want another retest of the daily SMA 200 to ensure that the upward movement could continue.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820,1.2000, 1.2070
GBP/USD
GBP/USD opened near the daily SMA 200 and continued to gain momentum, breaking above the 1.3450 level and printing a new higher high. This move suggests a potential break in the previous bearish structure, opening the door for further upside. If momentum holds, the pair could continue advancing toward higher resistance levels at the 1.3600.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY opened higher but is currently trading slightly lower from its opening level. Price remains contained within the previous week’s bearish candlestick range. The lack of strong directional movement suggests consolidation, with traders waiting for a clearer breakout signal. Will the pair extend the bullish movement to target 161.18? Alternatively, will it break below 157.90 to confirm trend reversal?
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 opened near the 0.7000 level and showed a strong bullish reaction. The rebound suggests continued buying interest from this support zone. As long as price holds above 0.7000, the pair has a good chance to extend higher toward the 0.7160 resistance level. Traders will monitor whether momentum can sustain this upward move.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160