USDX (USD Index)
The U.S. Dollar Index managed to close above the 100.00 level, but the index is already facing selling pressure at the start of the new trading session. For now, the index is still trading inside Friday’s range, suggesting that the market is entering a temporary consolidation phase. Traders are likely waiting for clearer direction from the upcoming FOMC meeting later this week, which could become a major catalyst for the next move in the dollar. A sustained move above the recent highs would strengthen the bullish outlook, while failure to hold above 100.00 may trigger another pullback.
EUR/USD
EUR/USD is showing bullish reactions after the recent sell-off, with price recovering toward the 1.1500 area. This rebound could signal the start of a short-term recovery, especially if buyers manage to stabilize the pair above nearby support levels. However, the broader structure still requires further confirmation before a stronger bullish reversal can develop. Traders will watch whether the pair can maintain momentum above the recovery zone.
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 previously closed below the key 1.3250 support, indicating strong bearish momentum during the last session. Despite that breakdown, the pair is currently showing bullish reactions, with price recovering back toward the 1.3300 – 1.3330 resistance area. The current move may represent a technical rebound following the sharp decline. A failure to break above this resistance zone could invite renewed selling pressure.
Today’s critical levels to watch:
Support: 1.3250
Resistance: 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY is currently experiencing bearish pressure near the recent highs, suggesting that the market is encountering resistance. However, the broader structure still supports the possibility of further upside continuation, especially if buyers manage to defend the recent breakout levels. A consolidation phase near the highs may develop before the next directional move.
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 continues to react around the 0.7000 psychological support level, which remains a key area for the pair. For now, the market is trading inside a range between 0.7000 and 0.7160, indicating a temporary balance between buyers and sellers. Traders will likely wait for a clear breakout from this range to determine the next directional move.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160