USDX (USD Index)
The U.S. Dollar Index capitulated to bearish pressure during the session, decisively breaking below the 99.00 handle. This technical breakdown has shifted immediate momentum to the downside, opening the door for an extended retracement toward the daily SMA 200. Because the index printed a clear higher high in its previous upside attempt, the short-term trend will technically remain intact if buyers can defend the daily SMA 200 and prevent the market from carving out a new lower swing low.
EUR/USD
Capitalizing directly on the greenback’s retreat, EUR/USD maintained a steady upward pressure throughout the day. The pair is currently trading around 1.1670, putting it face-to-face with a massive technical test at the daily SMA 200. Bulls will need to deliver a convincing close above this dynamic resistance line to validate the current recovery and spark a more sustained trend reversal.
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 caught a strong bid during the session, successfully climbing above the pivotal 1.3450 horizontal level. While a daily close above this mark gives the pair an immediate bullish bias, it presents a double-edged sword for swing traders. Crossing this threshold means Cable has effectively returned inside its previous 1.3450 – 1.3600 consolidation box, where it might continue the ranging movement.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
It was an entirely different story for USD/JPY, which spent the day locked in a quiet, sideways grind. Price action hovered aimlessly around the 159.24 region, completely detached from the volatility seen elsewhere in the FX complex. With no fresh directional clues or structural developments to speak of, the broader outlook remains on pause until the pair breaks away from its immediate consolidation.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00, 161.18
AUD/USD
AUD/USD delivered a strong bullish follow-through on Friday, building seamlessly on yesterday’s optimistic close. The currency cleared the hurdle at 0.7160 and climbed well above the previous week’s high, signaling strong underlying demand. While the intraday price action looks highly promising for the bulls, the exact closing print at the end of the day will provide the necessary confirmation to see if this breakout has real staying power.
Today’s critical levels to watch:
Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7300, 00.7330