The US dollar begins the new week on solid footing, supported by resilient U.S. economic data and stable Treasury yields as traders brace for upcoming inflation releases. While no major directional breakouts have occurred, several USD-pairs are approaching important technical zones that could define broader market direction into mid-November.
Across the board, the dollar continues to benefit from a mix of cautious risk sentiment and diverging global monetary expectations. Commodity currencies show tentative stabilization, while European majors remain under pressure. Meanwhile, and continue to reflect underlying dollar strength.
Below is a breakdown of the key technical setups across the major USD pairs.
: Bearish Drift Below 0.5230 Continues
AUD/CHF is trading around 0.5186, softening after repeated failures to break above 0.5230, where both the 15-day and 20-day moving averages converge. This area remains a firm ceiling.
- Support: 0.5160, followed by 0.5100
- Resistance: 0.5230, then 0.5320
- RSI (14): ~43, leaning bearish
A close below 0.5150 would increase the risk of a deeper pullback toward 0.5070. Upside momentum remains limited unless price reclaims 0.5230.
: Consolidation Persists Near 0.6500
AUD/USD is trading near 0.6520, locked within a tight sideways structure as buying interest remains capped below 0.6600.
- Support: 0.6460, 0.6400
- Resistance: 0.6600, 0.6670
- RSI (14): ~48, neutral
The pair remains below its short-term averages, showing a lack of conviction. A decisive break above 0.6600 is required to shift bias bullish.
: Momentum Slows but Stabilization Attempt Underway
EUR/USD is trading near 1.1598, recovering modestly from recent lows but still below the 15-day and 20-day MAs.
- Support: 1.1540, 1.1500
- Resistance: 1.1680–1.1720
- RSI (14): ~49, neutral
Sustained trade below 1.1600 keeps sellers in control. A close above 1.1700 is needed to confirm a bullish shift.
: Struggling to Break Out of Lower Range
GBP/USD is trading around 1.3150, attempting to stabilize after recent weakness but still capped below 1.3189.
- Support: 1.3016
- Resistance: 1.3198
- RSI (14): ~41, modestly bearish
Unless the pair reclaims 1.3198, pressure is likely to persist, potentially exposing 1.3014.
: Buyers Maintain Control Above 1.3950
USD/CAD is trading around 1.4037, with bullish structure intact despite moderate consolidation.
- Support: 1.3950, 1.3880
- Resistance: 1.4100, 1.4170
- RSI (14): ~54, bullish-leaning
The pair remains above both trend MAs, keeping the broader uptrend intact. A move above 1.4100 would signal a renewed push higher.
USD/CHF: Dollar Holding Steady Near 0.8000
USD/CHF is trading near 0.7955, maintaining a firm base despite slipping slightly below 0.8000.
- Support: 0.7920, 0.7850
- Resistance: 0.8020, 0.8100
- RSI (14): ~43, mixed
A close back above 0.8020 is needed to restore bullish momentum. Losing 0.7920 would risk a deeper pullback.
USD/JPY: Uptrend Intact With Eyes on 155.00
USD/JPY is trading near 156.66, holding strong after recent rallies and staying well above the 15- and 20-day moving averages.
- Support: 153.09
- Resistance: 156.32
- RSI (14): ~63, bullish but not stretched
Momentum continues to favour upside, with sustained closes above 155.03 potentially opening a path toward 156.32.
: Downtrend Moderates as Pair Tests 17.10 Support
USD/ZAR trading near 17.1034, recovering slightly but still contained within a broader descending channel.
- Support: 17.04, 16.90
- Resistance: 17.50, 17.70
- RSI (14): ~41, bearish-leaning
A break below 17.10 would resume the downtrend, while recovery above 17.50 could shift bias neutral.
Summary: Dollar Still in Control, but Market Awaits Breakout Catalysts
The broader FX landscape continues to exhibit tight ranges and technical stalemates, with the U.S. dollar maintaining a moderate advantage across most pairs.
Key data and evolving central bank guidance will determine whether these consolidations evolve into directional trends.
- Dollar pairs with bullish structures: USD/CAD, USD/JPY
- Mixed/neutral structures: AUD/USD, EUR/USD, USD/CHF
- Pairs under pressure: GBP/USD, AUD/CHF, USD/ZAR
Unless major data surprises occur, traders should expect the dollar to remain supported while majors continue to rotate within established technical boundaries.