USDX (USD Index)
The U.S. dollar index experienced a rejection from the 99.50 level today but is staging a recovery. The index has not left the 99.00 – 99.50 area, which means the consolidation continues. Traders should watch for a definitive breakout from this range; until then, the ranging movement is expected to persist. Tomorrow Non-farm employment data might become the trigger for next movement.
EUR/USD
EUR/USD made a bullish attempt, but the pair has lost upward pressure and is currently trading between 1.1580 and 1.1710. The pair remains within this established range, and under current conditions, traders will monitor price action to see if the support level at 1.1580 holds or if the pair drifts lower.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820,1.2000, 1.2070
GBP/USD
The ranging situation for GBP/USD continues between the daily SMA 200 and the 1.3450 level. The pair is struggling to find a clear direction, and traders are advised to wait for a breakout from this tight consolidation zone before committing to a larger position.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250
Resistance: 1.3450, 1.3600
USD/JPY
USD/JPY faced some bearish pressure at the start of the day, but the bulls continue to buy the dip, bringing the pair back near the opening level. The pair remains resilient despite the pressure, and market participants are observing how it reacts near these current technical levels. As mentioned before, traders will stay cautious of possibility of another BOJ intervention.
Today’s critical levels to watch:
Support: 158.89, 155.50, 155.00, 153.00, 151.00
Resistance: 160.00, 161.18
AUD/USD
AUD/USD remains sideways for the day, trading inside yesterday’s range. It is still positioned not far from the 0.7160 level. This consolidation prolongs the current market indecision, and traders will be looking for a breach of these boundaries to determine the next trend.
Today’s critical levels to watch:
Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7300, 00.7330