USDX (USD Index)
The U.S. Dollar Index continues to test the 100.00 level, but has yet to produce a strong breakout. Price action remains firm, with no clear bearish structure forming, suggesting that the bulls are still in control in the near term. Repeated tests of the 100.00 resistance indicate building pressure. A confirmed breakout above this level, followed by a higher swing high, could signal a shift toward a bullish trend. Until then, price remains in a consolidation phase, with traders watching closely for a decisive move.
EUR/USD
EUR/USD has recovered from the 1.1500 level, showing a short-term bounce after recent selling pressure. However, the pair has already printed a lower swing low, indicating that the broader structure remains bearish. The current upward movement is likely corrective, with key resistance seen near the daily SMA 200 and the 1.1710 level. Failure to break above these levels may result in renewed downside pressure, while a strong breakout could signal a shift in momentum.
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
GBP/USD managed to defend the 1.3250 support level and is currently trading near the daily SMA 200, placing the pair at a critical decision point. Price action suggests a potential stabilization phase, but confirmation is still needed. A sustained hold above current levels could lead to a short-term base formation. On the downside, a break below 1.3250 would confirm bearish continuation, exposing further downside potential.
Today’s critical levels to watch:
Support: 1.3250
Resistance: 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY is currently consolidating near its recent highs, with the 160.00 level acting as a key resistance zone. The lack of strong directional movement suggests that the pair may continue to trade within a range in the near term. A breakout above 160.00 would indicate bullish continuation, while rejection from this level could lead to a short-term pullback.
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 is holding near the 0.7000 support level, although recent price action shows increasing bearish pressure below this zone. If the pair manages to stabilize and maintain its position around 0.7000, the broader range between 0.7000 and 0.7160 is likely to remain intact. However, a sustained move below 0.7000 would signal a breakdown, potentially leading to further downside as bearish momentum builds.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160