USDX (USD Index)
The U.S. dollar index posted a bullish close on 24 December and is moving slightly higher today. However, this rebound does not change the broader bearish structure. Price action suggests the move is corrective rather than a trend reversal. The 98.15 level is the resistance level to watch for rejection, where sellers may re-enter. As long as the index continue printing lower swing low and lower swing high, it will continue moving lower.
EUR/USD
EUR/USD closed marginally lower on 24 December but continues to hold firm near the 1.1820 resistance zone. There are no clear signs of bearish follow-through, and price remains flat for now. The pair is still positioned for a potential upside continuation, with a breakout above 1.1820 opening the path for further gains. A failure to hold current levels would be the first signal of a deeper pullback to retest the 1.1710 level.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD shows limited movement following the recent rally. Price may undergo a short-term bearish correction toward the 1.3450 level. Such a pullback would be viewed as a corrective move within the broader bullish structure. Traders are likely to use weakness toward this level as an opportunity to re-establish or add long positions, provided price holds above the level.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY continues to hold above the low of the post-BOJ bullish candlestick, with no decisive downside follow-through. Price action suggests stabilization and a potential attempt to move higher. The next question for traders is whether the pair can resume the bullish trend and print a new higher swing high, or if selling pressure will return and push price back toward the green support area.
Today’s critical levels to watch:
Support: 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD hovering around the 0.6700 level after the recent advance. The pair is consolidating near resistance and may attempt to extend the bullish move toward the 0.6750 target. On the downside, the previously broken swing high around 0.6688 is the key level to monitor. A pullback toward this area would still be considered corrective as long as price holds above it.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700, 0.6750, 0.6820