USDX (USD Index)
The U.S. dollar index started moving lower in today’s trading session. Specifically, the price dropped before it could test the 99.00 resistance level. Currently, the index is moving right near the daily SMA 200. Based on this price action, we assume it might simply close the week near this support. Consequently, traders will likely wait for clearer reactions next week before making any major moves.
EUR/USD
EUR/USD successfully bounced from the daily SMA 200 today. Following this strong upward push, the pair officially returned above the 1.1710 pivot level. As a result, buyers have regained significant market control. In fact, the pair might close the day forming a massive bullish engulfing candlestick. Therefore, we expect to see another strong bullish attempt toward the 1.1820 resistance area soon.
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 staged a solid bounce directly from the 1.3450 support area. Because buyers aggressively defended this floor, the established 1.3450 to 1.3600 trading range remains highly respected. Consequently, the pair will likely attempt to test the upper boundary of this range now. If bullish momentum continues to build, a definitive breakout above 1.3600 could easily become the next major scenario.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY is facing slight bearish pressure during today’s session. However, the pair is simply moving entirely inside the previous day’s trading range. Therefore, this tight inside-bar formation indicates a clear pause in overall momentum. The market is still heavily ranging for now. As a result, traders should remain patient and wait for a definitive breakout signal before taking any new positions.
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 managed to return right up to the critical 0.7160 resistance level today. Despite some recent intraday volatility, buyers clearly remain highly persistent. Consequently, the pair will continue actively testing this crucial ceiling. If buyers can force a daily close above it, a strong bullish continuation will follow. Otherwise, another rejection will keep the pair trapped in its current consolidation phase.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160