USDX (USD Index)
The U.S. dollar index initially pushed lower today but has already reversed its course, currently moving above its opening level. This intraday bullish reversal suggests that buyers are stepping in to defend the recent lows. If this upward momentum is maintained, the index might turn higher to test the daily SMA 200 and the critical 99.00 resistance level. A firm breakout above these marks is needed to confirm a broader bullish reversal.
EUR/USD
EUR/USD experienced a bearish rejection at the critical 1.1820 resistance level, halting its recent upward climb. The pair printed a bearish candlestick, signaling that sellers are actively defending this top. If the pair starts moving lower from the current level and continues its pullback, the 1.1710 level and the daily SMA 200 will be the immediate support levels to watch. Buyers will likely look for a bounce at these support zones to keep the broader bullish structure intact.
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
Following a rejection from the 1.3600 resistance mark, GBP/USD has faced selling pressure today and moved below yesterday’s low. This price action indicates that a short-term bearish correction is now underway. The pair might move lower to retest the 1.3450 support level in the coming sessions. Traders who are looking to go long will likely monitor this 1.3450 area for bullish confirmation signals before adding to their positions.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY experienced a brief downward push earlier in the session but quickly reversed and is currently trading above its opening level. Despite this intraday volatility, there is no significant change to the overall technical picture. The pair remains firmly stuck in a sideways consolidation phase, hovering near its recent highs. Traders will continue to wait for a decisive breakout from this range before committing to the next major directional move.
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 successfully closed above the 0.7160 level recently, extending its bullish move and even printing a slightly higher high today. However, the pair has faced some intraday selling pressure and is currently trading back below today’s opening level. Despite the slight pullback, the overall trend remains bullish. It is likely that the pair will continue to consolidate and trade near the 0.7160 pivot area for now as it digests the recent gains.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160