USDX (USD Index)
The U.S. Dollar Index has extended its bullish move, successfully reaching the 101.79 resistance level where it is currently showing a slight rejection. Despite this minor intraday pullback, the overall technical situation remains firmly bullish. Moving forward, the index may either accumulate enough momentum to extend the current upward trend further or undergo a healthy, short-term correction back toward the 100.67 support level before its next leg higher.
EUR/USD
EUR/USD has reached the critical 1.1300 – 1.1360 support area and is currently attempting to secure a close above the 1.1360 level. In the near term, the pair might attempt to stabilize near this zone and work to reverse the recent intense bearish pressure. However, traders should remain vigilant; if a decisive bearish breakout happens below this floor, the broader bearish trend could comfortably continue to lower levels.
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 has officially printed a new lower swing low, maintaining its clear downward trajectory on the path to target the 1.3125 mark and the subsequent 1.3000 – 1.3050 support area. The overall technical structure for the pair remains heavily bearish across the board. In the event of any counter-trend recovery, the 1.3250 mark stands out as the key resistance level to watch.
Today’s critical levels to watch:
Support:1.3125, 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3330, 1.3450, 1.3600
USD/JPY
USD/JPY has not shown any signs of technical weakness so far, continuing to extend its gains in today’s trading session. Capitalizing on the broader strength of the U.S. dollar, the pair looks exceptionally well-supported and might continue its slow, steady upward grind toward higher technical targets as the bulls remain firmly in control.
Today’s critical levels to watch:
Support: 161.18, 160.00, 158.89, 155.50
Resistance: 162.00
AUD/USD
Following the decisive breakout below the 0.7000 handle, AUD/USD continued its downward movement today. Although the immediate selling pressure is somewhat limited, we might see the pair hanging near its daily SMA 200 very soon to test its resilience. A clean breakout and daily close below these moving averages, combined with a new lower swing low, will officially confirm a structural shift into a long-term bearish trend.
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7000, 0.7160, 0.7300, 00.7330