USDX (USD Index)
U.S. dollar index extended its bullish attempt today but remains inside yesterday’s range without marking a new higher high. Price action is consolidating as markets approach the upcoming FOMC meeting, where the index is expected to test key technical resistance levels. Traders remain cautious and will wait for clear breakout reactions around current resistance to confirm the next directional trend.
EUR/USD
EUR/USD remains pinned lower below the 1.1580 mark, maintaining a dominant bearish tone ahead of the FOMC meeting. The pair continues to face downside risk, with sellers potentially pushing price action lower toward the key 1.1500 support level. If the 1.1500 support fails to hold, extended weakness could follow. Conversely, buyers must regain control above 1.1580 to invalidate the short-term bearish pressure.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820, 1.2000, 1.2070
GBP/USD
GBP/USD is drifting lower and approaching the critical 1.3450 support zone, which aligns closely with the daily SMA 200. Traders are closely monitoring price action around this technical junction. A strong bullish bounce or rejection pattern near the SMA 200 could offer an optimal opportunity to enter long positions. However, a decisive breakdown below 1.3450 would expose lower support around the daily SMA 200.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY continues its upward trajectory, reaching a previously broken swing low where selling interest was anticipated. As of now, no immediate bearish rejection has formed. Should the bullish momentum persist, the 156.70 region serves as the next primary resistance level where traders will watch for potential market reactions or reversal setups.
Today’s critical levels to watch:
Support: 154.00, 150.00
Resistance: 155.50, 158.89
AUD/USD
AUD/USD stays under pressure following a close below 0.7160, though price action is currently hovering within yesterday’s trading range. The pair’s next major move hinges on the market reaction to the FOMC meeting—either recovering back above the 0.7160 breakout level to resume an upward path or extending its decline toward the primary 0.7000 target and daily SMA 200.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160, 0.7300, 00.7330