USDX (USD Index)
U.S. Dollar Index continues to flirt with its recent lows after an intraday bearish push was met with buying interest, bringing price back toward the opening level. Despite the downward pressure, no downside breakout has materialized yet. Market participants appear hesitant to take aggressive directional bets ahead of high-impact risk events. The index is likely to remain in its current holding pattern until the release of this week’s U.S. inflation data and next week’s FOMC monetary policy meeting.
EUR/USD
EUR/USD attempted an upward breakout above the daily SMA 200 during trading, but the move lacked follow-through. The pair returned below the moving average and continues to trade strictly within the range bounded by 1.1580 support and the daily SMA 200 resistance. Expect consolidation to persist until price action achieves a decisive daily close outside this immediate boundary.
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 showed little structural change, remaining stuck near the midpoint of its established 1.3450 – 1.3600 consolidation zone. The broader trend remains supported above the daily SMA 200, but buyers lack the momentum needed to clear the 1.3600 resistance handle. Range-bound trading is expected to continue until a catalyst triggers a breakout above 1.3600 or below 1.3450.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY experienced another strong bearish push, but price bounced off session lows without printing a new lower low. While the pair remains in a broader downtrend, a short-term bullish correction may be underway. If a corrective pullback develops, traders can watch for bearish price action signals near the 155.00 – 155.25 resistance zone to consider fresh short entries aligned with the dominant trend.
Today’s critical levels to watch:
Support: 154.00, 150.00
Resistance: 155.50, 158.89
AUD/USD
AUD/USD maintains its slow upward grind, printing a new higher high before pulling back to settle near the daily opening price. The broader bullish trajectory remains intact, with the 0.7300 – 0.7330 resistance band serving as the main upside target. Near-term price action will determine whether the pair pushes straight toward 0.7300 or undergoes a minor corrective dip to retest support at 0.7160 before resuming its ascent.
Today’s critical levels to watch:
Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7300, 00.7330