The US dollar is experiencing a decline, though it’s not at its worst levels.
Euro Dollar Technical Overview
The Eurodollar gained traction during the Asian trading session, coming close to the 100-hour moving average value of 1.1799. However, the upward movement hit a wall near a significant resistance area. This resistance is in the range of 1.1830 to 1.1832, which includes the 50% midpoint of range from 2026 (1.1830) and the decline in the 200-hour moving average (1.1832).
The inability to breach this upper limit shifted momentum back to the sellers, prompting the pair to dip below the 100-hour moving average and toward support levels around 1.1765 to 1.1778. At that point, buyers stepped in.
Currently, prices are hovering around 1.1800, making the market quite competitive.
Support is observed at 1.1765 to 1.1778, while resistance remains at 1.1830 to 1.1832. A breakout in either direction could dictate the upcoming trend.
USD/JPY Technical Analysis
After tariff news emerged over the weekend, USD/JPY saw a sharp decline, falling below key levels such as the 100-hour moving average and the 38.2% retracement level at 154.320, indicating a downward shift in short-term momentum.
Nonetheless, the selling pressure eased before reaching the next significant target near the 200-hour moving average at 153.82, allowing buyers to re-enter and push prices back above the 100-hour moving average, aiming for a nearby confluence at 154.96, which aligns with the 100-day moving average and a 50% retracement.
The pair is currently trading close to the 100-hour moving average, which serves as a pivot point. If it breaks below this threshold, downward pressure could continue toward 153.82. Conversely, if it rises above 154.96, the outlook could shift more positively.
GBP/USD Technical Overview
GBP/USD dipped last week, nearing the 200-day moving average at 1.34426. Although the price briefly fell below this level, the downward momentum halted, and sellers couldn’t sustain the break. This failure led to a rebound, lifting prices toward the 100-hour moving average.
Today, the pair managed to surpass the 100-hour moving average, but the upside was capped by resistance in a defined range between 1.3526 and 1.3536. Sellers pressed into that area, dragging the price back under the 100-hour moving average and below the 1.3400 swing level.
Since then, the price has fluctuated again, trading back and forth around the 100-hour moving average, which is now a crucial indicator.
A move above the 100-hour moving average suggests a more bullish outlook, while a drop below it would allow sellers to regain short-term control.
