USDX (USD Index)
The U.S. dollar index faced noticeable bearish pressure near the daily SMA 200 today. However, the index successfully managed to recover from its intraday lows. Based on this resilient price action, the market might simply close the day near these moving averages. Currently, the overall technical direction remains undeniably bearish. Nevertheless, a definitive daily close above the 99.00 resistance level might easily turn the trend bullish. Therefore, traders will watch this crucial point closely.
EUR/USD
EUR/USD made a strong bullish attempt to break above last Friday’s high. Despite this early upward push, the pair has returned near the 1.1710 mark and its opening level. Because the bullish momentum faded quickly, the market is currently lacking a clear direction. Consequently, a period of tight consolidation near the current level might easily happen. Therefore, traders should remain patient until a fresh breakout occurs.
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 upward continuation attempt during today’s session. However, the pair retraced sharply before it could actually test the 1.3600 resistance level. Because sellers stepped in to defend that ceiling, the established trading range remains highly respected. Specifically, the market is still firmly trapped between the 1.3450 and 1.3600 boundaries. As a result, traders will likely continue playing this sideways range until a definitive breakout happens.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY is experiencing a mostly sideways trading session today. In fact, there is not much significant change in the market right now. Because volatility has essentially dried up, the pair will likely close the day right near its opening level. Consequently, the ongoing consolidation phase remains firmly intact. Traders should confidently stay on the sidelines and wait for a clear directional signal to emerge.
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 is showing incredibly strong bullish momentum today. Specifically, the pair successfully climbed above the critical 0.7160 resistance level. If this bullish pressure continues to build, buyers will easily print a new higher high. In that positive scenario, the pair will confidently continue its upward journey toward the 0.7300 to 0.7330 target zone. Therefore, the immediate technical outlook remains highly optimistic for the bulls.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160