USDX (USD Index)
The U.S. Dollar Index is continuing to struggle for bullish follow-through during today’s trading session. Specifically, the index remains capped just beneath the daily SMA 200, with the bull repeatedly failing to produce a sustained move higher. Above the SMA 200, the critical 99.00 level is the next major resistance to watch. Therefore, a definitive close above this level becomes a strong bullish confirmation. On the lower side, a fresh lower swing low beneath 97.43 would serve as solid bearish confirmation.
EUR/USD
EUR/USD has closed below the key 1.1710 pivot level and is now pressing directly against the daily SMA 200. Because the pair has already broken a significant horizontal level, the path of least resistance currently favors further downside. If sellers force a clean daily close beneath the SMA 200, continuation lower toward 1.1580 quickly comes into focus. However, if buyers defend the moving average and reclaim 1.1710, the bearish scenario is put on hold. Therefore, the reaction at the daily SMA 200 will be the key development to monitor closely.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820,1.2000, 1.2070
GBP/USD
GBP/USD is showing resilience today after rejecting the 1.3600 resistance area and posting a bearish close on Monday. Specifically, there has been no meaningful bearish follow-through as buyers made a fresh attempt to reclaim lost ground. However, the pair has since relinquished part of those gains, leaving the near-term picture uncertain. Because the pair continues to respect its established range boundaries, the broader sideways structure remains firmly intact. Therefore, a clean breakout from either the 1.3450 support or 1.3600 resistance will determine the next major directional move.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY is making a bullish recovery today after stalling for two consecutive sessions near the Fibonacci Retracement levels. Specifically, the pair has now printed a higher high, suggesting buyers are attempting to reclaim control. As a result, the pair is on course to retest the previously broken support level, which will now act as resistance. Therefore, traders will be watching the pair’s reaction at that retest zone carefully for the next clear signal.
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 find solid support at the 0.7160 pivot level today. Specifically, the pair is consolidating near that area as buyers repeatedly step in to defend it. Because the level has attracted consistent buying interest, it remains a significant floor for the pair. On the upside, the 0.7300 to 0.7330 area remains the primary bullish target to watch. Therefore, the next breakout from the current consolidation will determine the broader directional move.
Today’s critical levels to watch:
Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7300, 00.7330