USDX (USD Index)
U.S. Dollar Index staged a modest recovery today, bouncing back after yesterday’s sharp drop to form a classic inside bar. This structural formation highlights clear near-term indecision between buyers and sellers following the recent sell-off. Market participants are now weighing whether the index will face renewed bearish pressure to target the major 100.00 psychological support, or if the bull will successfully resume the broader bullish trend toward a new swing high.
EUR/USD
EUR/USD turned visibly lower during today’s session, failing to reach the highly anticipated 1.1500 resistance barrier before encountering overhead supply. This bearish turn aligns perfectly with broader technical expectations, confirming that the recent upward movement was likely just a temporary bullish correction within a larger structure. If sellers maintain this downward pressure, the pair could see a deeper retracement back into its previous consolidated trading range.
Today’s critical levels to watch:
Support: 1.1360, 1.1300
Resistance: 1.1500, 1.1580, 1.1710, 1.1820,1.2000, 1.2070
GBP/USD
Following its major bullish breakout above the crucial 1.3450 mark, GBP/USD has entered a healthy phase of bearish correction today. The pair is currently pulling back to test underlying structural supports, with the market closely eyeing a potential retest of either the broken 1.3450 level or the dynamic daily SMA 200. Traders will likely remain on standby, waiting for definitive bullish reactions at these zones before confirming the next entry.
Today’s critical levels to watch:
Support: 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3300, 1.3330, 1.3450, 1.3600
USD/JPY
USD/JPY remains locked in an ongoing sideways consolidation, but buyers are successfully maintaining steady upward pressure on the price action. A distinct ascending triangle pattern has formed on the daily timeframe, pointing to a steadily building bullish bias. As long as the lower ascending trendline of this triangle holds firm against bearish attempts, the overall bullish thesis remains fully intact for an eventual upside breakout.
Today’s critical levels to watch:
Support: 161.18, 160.00, 158.89, 155.50
Resistance: 162.00
AUD/USD
AUD/USD successfully reached the critical 0.7000 psychological level and now appears ready to enter a consolidation phase directly near this major boundary. The price action is beginning to compress as buyers and sellers battle for control at this horizontal pivot. Traders should expect some sideways churning in the near term as the market digests recent gains and gathers momentum for its next major directional impulse.
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7000, 0.7160, 0.7300, 00.7330