The US dollar is kicking off the session mixed. EURUSD and GBPUSD are lower (firmer USD), while USDJPY is also lower (softer USD vs JPY). As we head toward the North American session and the end of the week, the focus shifts to whether these pairs can break out of tight ranges and establish clearer directional control.
EURUSD technical analysis: Tight weekly range keeps traders waiting
The EURUSD remains confined to a narrow 70-pip range for the week, signaling a market still searching for conviction. That type of compression often precedes expansion. The key question is whether buyers or sellers can force a breakout and extend the range.
Upside resistance levels
The high today stalled at 1.1830, the 50% midpoint of the recent move. Monday’s high reached 1.1834 before rotating lower. That 1.1830–1.1834 area is key resistance.
A break and sustained move above that zone would increase the bullish bias and shift focus toward:
- 1.1860 as the next upside target
- 1.1889, the broken 38.2% retracement of the 2026 trading range
Until that area is cleared, upside momentum remains limited.
Downside support levels
The European session rotation lower pushed price below the 200-hour MA at 1.1801, but buyers stepped in at the 100-hour MA near 1.1793.
If the price falls below the 100-hour MA, traders will look toward:
- 1.1765–1.1778, the swing area floor for the week
- 1.1741, last week’s double bottom
- 1.1691, where the 100-day MA comes into focus
A break below the weekly floor would likely increase downside momentum.
EURUSD outlook: The pair remains range-bound, but pressure is building. A decisive move outside the 70-pip range could trigger a stronger directional run.
USDJPY technical analysis: Failed breakout shifts momentum lower
The USDJPY is correcting earlier gains after failing on a topside breakout.
Yesterday’s rally pushed above the 156.20–156.28 swing area and extended through a topside trendline near 156.60, but the break could not be sustained. The pair rotated lower into the close.
In the Asian session today, price broke back below 156.20, accelerated to a low of 155.72, and then bounced.
Key pivot level: 156.20–156.28
This former support zone now acts as resistance and remains the key short-term barometer.
If the price moves back above 156.28 and holds, buyers
regain control.
If the price stays below 156.20, sellers maintain the edge.
On further downside pressure, the next target is the rising 100-hour MA near 155.47.
USDJPY outlook: The failed breakout shifts the short-term bias lower unless buyers can reclaim the 156.20–156.28 zone.
GBPUSD technical analysis: Buyers defending short-term support
The GBPUSD made a new Asian session high, breaking above yesterday’s high near 1.3565 and reaching 1.3575. However, it stalled just ahead of the swing resistance zone between 1.3582 and 1.3590.
In the European session, price rotated lower:
- Broke below the 200-hour MA at 1.3526
- Moved under the 1.3526–1.3537 swing area
- Found support ahead of the rising 100-hour MA at 1.3512
The pair has since rebounded and is now trading back above 1.3536.
Holding above that reclaimed swing area keeps buyers in short-term control. A move back below would shift focus toward the 100-hour MA. A break above 1.3575 would bring the 1.3582–1.3590 resistance zone back into play.
GBPUSD outlook: Buyers remain active, but upside momentum needs to clear the 1.3580 area to strengthen the bullish case.
North American session focus
Across the board, these pairs are sitting near inflection points:
- EURUSD remains compressed within its weekly range
- USDJPY is testing sellers after a failed breakout
- GBPUSD is trying to hold reclaimed support
As we move into the North American session and toward the weekly close, watch for range expansion and momentum confirmation around the key technical levels outlined above.
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