USDX (USD Index)
U.S dollar index is showing mild recovery today after yesterday’s small rebound, but the overall structure still leans bearish. Price is moving slightly higher but remains below the 100.00 resistance zone and well under the declining daily SMA 200. The reaction around 99.00 suggests short-term stabilization, but there is no strong bullish follow-through yet. As long as the index stays below 100.00, the bias remains bearish and the downside target at 97.43 still stands. Only a clean close above 100.00 would signal a trend reversal.
EUR/USD
EUR/USD is trading mostly sideways today, inside the previous day’s range. The pullback remains mild for now, and price is still supported above 1.1580. Not much movement as traders wait for the FOMC meeting. If buying pressure returns, then 1.1710 will remain the key level to watch. A failure to break may cause the pair to drift sideways or retest 1.1580. The broader outlook stays mildly bullish while price holds above the rising structure.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD is under pressure today after an attempt to push higher stalled near 1.3330. The pair is still inside a short-term consolidation zone while staying above 1.3250. If bearish pressure continues, then a retest of 1.3250 could occur. Traders could wait for bullish reaction near 1.3250 for chance to add long positions, with 1.3450 as nearest target. The overall outlook stays bullish while price trades above the daily SMA 200.
Today’s critical levels to watch:
Support: 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3330, 1.3450
USD/JPY
USD/JPY continues its rebound for another session, confirming strong support from the green box area. Price is now pushing above yesterday’s high and approaching the previous swing high. Today’s candle is showing momentum, suggesting the bearish correction has been completed. If upside continuation occurs, the next targets are 158.00 and 158.89.on the lower side, if the price suddently turned lower without printing new higher swing high, then it is better to observe reactions at the green box area before entering long positions.
Today’s critical levels to watch:
Support: 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD is making bullish attempt but mostly limited inside previous day’s range. If the pair turn lower, then the nearest supports are 0.6600 and 0.6560 or previous swing high. We maintain bullish outlook on the pair and see the pair reach 0.6700 – 0.6750 area soon. However, the situation might depend on this week FOMC meeting.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700