USDX (USD Index)
U.S. Dollar Index traded slightly lower today following yesterday’s strong upward push. Having firmly broken above the descending trendline, the index maintains a broader bullish structure. Price action could pause temporarily in a brief consolidation before resuming its advance, or resume its upward trajectory immediately toward the recent swing high. As long as the broken trendline holds as dynamic support, the overarching bias remains positive.
EUR/USD
EUR/USD staged a mild bullish correction today following yesterday’s decisive bearish close. That drop formed a clear bearish engulfing pattern on the daily chart and pushed prices down near the 1.1360 support level. If sellers reassert control and drive a bearish continuation, the key 1.1300 level will become the primary focus. Any short-term bounces are expected to face overhead selling pressure within the established downtrend.
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
GBP/USD is currently consolidating directly within the 1.3300 – 1.3330 price zone after recent downside momentum pushed it below the daily SMA 200. Market participants are monitoring this key support area closely for the next directional signal. If bearish continuation materializes and breaks below this barrier, the 1.3250 mark stands out as the next downside target. Near-term technical structure continues to favor sellers.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3450, 1.3600
USD/JPY
USD/JPY printed a fresh higher high today as the persistent bullish trend shows no structural signs of exhaustion. The pair continues to maintain strong upward momentum with buyers firmly in control across daily timeframes. Given the lack of any significant bearish reversal signals, traders are better off avoiding counter-trend short positions. Further upside expansion remains the favored path while the current bullish structure stays intact.
Today’s critical levels to watch:
Support: 161.18, 160.00, 158.89, 155.50
Resistance: 162.00
AUD/USD
Following yesterday’s sharp bearish close, AUD/USD rebounded immediately today to erase those losses and climb back to the 0.7000 psychological handle. This swift recovery underscores the ongoing tug-of-war between buyers and sellers in this region. As a result, sideways movement and consolidation around 0.7000 will likely continue for now. Traders should look for a confirmed range breakout before taking fresh directional trades.
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7000, 0.7160, 0.7300, 00.7330