USDX (USD Index)
The U.S. dollar index has broken higher, extending its bullish structure and putting broad pressure on U.S. dollar pairs. The move suggests continued demand for the dollar, and for now we may see further upside attempts as long as price holds above the breakout level. As we mentioned, a close above daily SMA 200 will become confirmation of bullish continuation. However, if the bear could immediately push the index to close below the averages, then we will see bearish continuation.
EUR/USD
The pair continues to grind lower in a controlled manner, respecting the broader bearish structure. As long as price stays below 1.1710, downside pressure remains intact, with the 1.1500–1.1580 area acting as the next downside zone to watch. Traders will use the bearish correction as a chance to more long positions at a lower level.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
Cable remains under pressure and is trading near multiple prior lows. Failure to reclaim the key level of 1.3450 keeps the bearish bias intact, and we may see continuation toward the 1.3300–1.3330 area if selling pressure persists. Despite the situation, if the pair continue moving lower, then it is a chance for traders to add long positions near the 1.3300 – 1.3330 area and the daily SMA 200.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250
Resistance: 1.3450, 1.3600
USD/JPY
USD/JPY pair is attempting to break higher near the top of the recent bullish candlestick range. A confirmed breakout could open the way for continuation toward 159.63, followed by 160.00 and 161.82. Bias remains bullish for now as U.S. dollar index pushing upward. On the lower side, the movement below the green box area will cancel the bullish outlook.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD pair has posted a third consecutive bearish day, breaking below 0.6700 and approaching a potential lower swing low. With no clear bullish catalyst, the preferred stance is to stay on the sidelines for now and wait for signs of support, potentially after a sweep of the previous swing low. We continue to maintain bullish outlook as long as the higher swing high and higher swing lows structure intact.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700, 0.6750, 0.6820