Forex Technical Major Pairs Analysis

USDX (USD Index)

U.S. Dollar Index closed near the critical 100.00 psychological support level following its recent massive drop. While the index managed to stage a slight recovery in today’s session, the broader technical structure and overall momentum still point heavily to the downside. If the index records a daily close decisively below the 100.00 mark, it will provide a strong technical confirmation of a bearish continuation, setting the stage for further structural weakness.

EUR/USD

EUR/USD maintained its strong bullish trajectory, successfully securing a daily close above the 1.1500 key resistance level. By printing a fresh higher swing high, the pair has reinforced its upward market structure. The current price action suggests that the bullish advance might continue in the near term, with buyers now targeting the 1.1580 resistance barrier, followed closely by the daily SMA 200 as the next major upside objectives.

Today’s critical levels to watch:

Support: 1.1360, 1.1300

Resistance: 1.1500, 1.1580, 1.1710, 1.1820,1.2000, 1.2070

GBP/USD

GBP/USD executed a decisive close above the 1.3450 level, backed by notably strong upside momentum. Moving forward, the pair might either continue its upward expansion immediately or temporarily stall to consolidate near current elevated prices. Nevertheless, the prevailing bias remains firmly bullish. Should a near-term bearish correction occur, the daily SMA 200 is perfectly positioned to serve as a robust dynamic support level.

Today’s critical levels to watch:

Support: 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000

Resistance: 1.3450, 1.3600

USD/JPY

The massive drop in USD/JPY was triggered by suspected Bank of Japan (BOJ) market intervention, which heavily disrupted the prior uptrend. Although there is a visible bounce reaction in today’s trading session, the overall directional bias has sharply shifted to the downside for the time being. The pair might either immediately resume its descent to test lower support zones or stall near the current price levels as the market digests the recent volatility and waits for further directional clarity.

Today’s critical levels to watch:

Support: 158.89, 155.50

Resistance: 160.00, 161.18, 162.00

AUD/USD

AUD/USD successfully closed above the crucial 0.7000 psychological handle and is now actively trading at the top of its established consolidation area. This breakout positions the pair favorably for further upside expansion. If buyers can sustain this momentum and continue the bullish structural move, the next definitive upside target to watch is the 0.7160 resistance level.

Today’s critical levels to watch:

Support: 0.6820, 0.6750, 0.6700, 0.6600

Resistance: 0.7000, 0.7160, 0.7300, 00.7330