USDX (USD Index)
The U.S. dollar index broke out of the 99.00 – 99.50 consolidation zone. This zone previously limited price action. Today’s job data sparked a surge in momentum. Consequently, the index pushed straight toward the 100.00 psychological resistance level. Traders should watch if the index sustains these gains above 100.00. This would signal a shift in the medium-term trend.
EUR/USD
EUR/USD has encountered a significant setback, staging a clear breakout below the 1.1580 support level. The pair is currently trading with strong bearish momentum, aggressively pushing down toward the next technical target of 1.1500. Given the strength of the current downward move, market participants are on alert for a potential test of lower supports, as the pair appears to have ample room to extend its losses should the 1.1500 level fail to hold.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820,1.2000, 1.2070
GBP/USD
The situation for GBP/USD has shifted rapidly today; the pair initially made an attempt to climb above 1.3450, but that move proved to be short-lived. Sellers have since taken control, pushing the price back below both the 1.3450 level and the daily SMA 200 with strong momentum. With the trend now decisively bearish, the pair is expected to test the 1.3300 – 1.3330 area. Should this support cluster be breached, it would clear the path for a decline toward the 1.3250 target.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250
Resistance: 1.3450, 1.3600
USD/JPY
USD/JPY continues to exhibit remarkable resilience, maintaining its climb despite the broad market movements. While other yen-denominated pairs have already begun to show signs of bearish reaction and exhaustion, USD/JPY has not yet shown any significant signs of a pullback. This decoupling highlights the extreme strength of the U.S. dollar at the current time, making it the standout performer against the Japanese Yen for now.
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 has experienced a sharp decline, printing a new lower low that seems to confirm a definitive change in the pair’s trajectory. With the recent technical breach, the market sentiment appears to be firmly aligned toward a retest of the 0.7000 level. Given the lack of immediate buying pressure, traders should remain cautious as the pair attempts to find a stable floor in this increasingly bearish environment.
Today’s critical levels to watch:
Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7300, 00.7330