USD at Key Levels on Almost Every Major Pair. US Non-Farm Payrolls in Focus

In today’s GCI Market Outlook, let’s take a look at GBPUSD, EURUSD, AUDUSD, NZDUSD, USDCAD, and USDCHF.

Just a reminder that these videos are intended as educational, we are only observing current market conditions, and these are not to be considered as trading advice.

Yes, today we will focus only on USD major pairs and you will see why.

In our last video, we looked at a few reasons for the strength of USD and I encourage you to review that video now.

https://www.gcitrading.com/en/news-and-analysis/gold-xauusd-in-symmetrical-pennant-3-reasons-for-usd-strength-forex-range-trading-usdchf-bull-run/

Well, we see the bull run on USD continuing and the reasons we stated in the last video still hold true.

On the technical side, if we look at USDCHF we see price at 0.79 which is a key level which has held many times all the way back to Jul of 2025.

On USDCAD we see similar resistance and one case of support at $1.39.

We have been watching the meteoric rise of NZD based on a potential interest rate rise but the strength of USD won out with price action falling dramatically but not quite creating a lower trend line, with an oversold stochastic oscillator.

We see a similar story with AUDUSD, which is in an uptrend.

If we look at the daily chart on AUDUSD, we can see just how strong AUD has been since last November.

Again, EURUSD is at a key level of $1.60, which has held many times.

On USDJPY, we are approaching a key level of 160 yen.

The only US Major pair that was not invited to the party is GBPUSD, which tells us that GBP may be getting stronger.

And, sure enough, if we look at all GBP pairs, we see all but EURGBP showing pound sterling strength this month.

So, two lessons here:

Firstly, we see how key levels repeat and hold very often.

And, just as importantly, you will note that these key levels are almost always round numbers, like 160 yen, $1.39, etc., etc.

So, if we see a change in the fundamentals, like US bond yields, lower inflation, the Iran war, we may see a reversal, so watch the news.

But tomorrow is a critical day with the US Non-Farm payrolls, which will give the Fed some clues on the direction of the US economy and future interest rates, and therefore, the value of USD.

Also, we will see Canadian employment data, so watch for volatility on CAD pairs, especially USDCAD, where we see mixed strength and weakness.

That’s all for now.

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