USD is moving lower helped by lower oil and yields. What are the charts telling traders?
The USD is trading lower today as oil slips back below $100 and Treasury yields edge down. The 10-year yield is off -2.2 bps at 4.367%, while the 2-year is also down -2.2 bps at 3.865%.
On the data front, ISM Manufacturing PMI came in weaker than expected but held above the 50 level—keeping the sector in expansion. The report had a mixed tone: employment declined, while new orders and prices moved higher, pointing to ongoing demand alongside persistent cost pressures.
In the video above, I walk through the major currency pairs versus the USD—breaking down the technicals that define the bias, risk, and targets.
EURUSD
The EURUSD pushed to new highs and is now targeting the April 21–22 highs near 1.1790.
- Above 1.1790 → opens the door toward the next swing area at 1.1823–1.1836
- The pair has already broken and extended away from this week’s high at 1.17544, signaling strong upside momentum
- Bias: Bullish above 1.1754
USDJPY
USDJPY remains range-bound, with key levels clearly defining the battlefield:
- Resistance: 100-day MA at 157.26
- Support: 61.8% retracement at 155.50
- Pivot: 50% midpoint at 156.50
Price is rotating above and below that midpoint—acting as the rudder:
- Above 156.50 → more bullish tilt
- Below 156.50 → sellers gain control
- Bias: Neutral within the range, awaiting a break
GBPUSD
GBPUSD has broken higher after holding support in a key April swing area:
- Support: 1.3575–1.3598 (now risk-defining zone)
- High today: 1.3658 (highest since mid-February)
Upside targets:
- 1.3725–1.3772 (next major swing area)
- Year high: 1.3869
- Bias: Bullish above 1.3575
USDCHF
USDCHF continues to push lower and is approaching key support:
- April low: 0.7773
- 61.8% retracement: 0.7770
This is a critical decision zone:
- A break below would increase bearish momentum
- On the first test, expect dip buyers to lean with tight risk
- Bias: Bearish, but support is being tested
NZDUSD
NZDUSD has rebounded sharply after making lower lows over the past three weeks:
- The earlier break below the 4H 200-bar MA (0.5829) failed to sustain momentum
- Price is now testing a key swing area
Key levels:
- Resistance: 0.5927–0.5935
- High today: 0.5924
- Above 0.5935 → opens the door for further upside extension
- Bias: Turning more bullish on a break higher
USDCAD
USDCAD continues its move lower, extending the downside momentum from midweek:
- Broke below swing area at 1.3593–1.3600
- Low today: 1.3550
Next downside targets:
- 1.3521–1.3531 (swing area)
- February low: 1.3503
- Year low: 1.3482
- Bias: Bearish below 1.3600
Bottom line: Lower yields and softer oil are weighing on the USD, while technically, most pairs are either extending trends (EURUSD, GBPUSD, USDCAD) or coiling for a break (USDJPY). The levels above define the battlefield—stay with the bias, define the risk, and let the market confirm the next move
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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