Forex Technical Major Pairs Analysis - Friday, Sept. 4

USDX (USD Index)

U.S. Dollar Index is hovering near its daily SMA 200 following a bearish close, as market participants remain on the sidelines ahead of key U.S. employment and job data. A clean breakdown below the daily SMA 200 could trigger persistent weakness toward key downside support levels. Conversely, a bullish rebound off current levels would target 100.00.

EUR/USD

EUR/USD remains locked in a consolidation range between the 1.1580 support floor and dynamic resistance at the daily SMA 200. The pair displays a neutral stance while awaiting momentum catalysts. A confirmed breakout above key resistance would signal a bullish continuation, whereas a breakdown below 1.1580 risks a deeper retest toward 1.1500.

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 continues to trade near the midpoint of its established 1.3450–1.3600 range, with the broader structural bias remaining bullish above key support zones. A decisive breakout above 1.3600 would clear the path toward higher resistance targets at 1.3835 and 1.4000. On the downside, a dip below 1.3450 could open up deeper pullbacks toward support near 1.3330 and 1.3250.

Today’s critical levels to watch:

Support: 1.3450, 1.3330, 1.3300, 1.3250

Resistance: 1.3600

USD/JPY

Following a steep sell-off, USD/JPY has stabilized near major Fibonacci retracement levels. While a minor corrective bounce may develop in the near term, traders are watching overhead resistance for potential short re-entry opportunities. Continued downside momentum is expected to drive price back toward support at 155.67 (50.0% Fib), 154.83 (38.2% Fib), and 152.11.

Today’s critical levels to watch:

Support: 155.50

Resistance: 158.89, 160.00, 161.18, 162.00

AUD/USD

AUD/USD is testing recent higher highs, though breakout momentum remains muted ahead of U.S. news releases. A sustained push higher could extend gains toward the 0.7300–0.7330 target zone, with higher resistance at 0.7376. If buying pressure fails, a pullback could test horizontal support at 0.7160, with lower key support levels resting at 0.7000.

Today’s critical levels to watch:

Support: 0.7160, 0.7000, 0.6820, 0.6750, 0.6700, 0.6600

Resistance: 0.7300, 00.7330