USDX (USD Index)
U.S. Dollar Index is under bearish pressure today but remains contained within the previous day’s trading range. The market appears likely to move sideways until the upcoming CPI data release this week provides fresh directional impetus. If the bearish retreat continues, the 101.79 level will act as the key support zone to watch.
EUR/USD
EUR/USD showed initial bullish reactions near the 1.1185 level, but overall price action remains confined inside the previous day’s range. The pair is expected to stick near its current levels until a clear catalyst emerges. If buyers build further momentum, the 1.1300 – 1.1360 zone will serve as the primary target resistance area.
Today’s critical levels to watch:
Support: 1.1185, 1.1120
Resistance: 1.1300, 1.1360, 1.1500, 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD is building mild bullish pressure and continues to trade near the 1.3250 level. There is no major change to the overall situation as price action remains centered around this pivot point for now. A sustained hold above 1.3250 could pave the way toward the 1.3300 – 1.3330 resistance area, while failure to hold support keeps 1.3125 in focus.
Today’s critical levels to watch:
Support: 1.3250
Resistance: 1.3300, 1.3330, 1.3450, 1.3600
USD/JPY
USD/JPY experienced initial bearish pressure, but the pair slowly recovered and is now moving back close to the daily SMA 200. Price action will likely continue to trade sideways near the daily SMA 200 for the time being as traders await further confirmation. A decisive break higher or lower away from this moving average will set the next directional trend.
Today’s critical levels to watch:
Support: 155.50, 154.00, 150.00
Resistance: 158.89
AUD/USD
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7000, 0.7160, 0.7300, 00.7330