US Dollar Pauses Slide After Hitting Key Support Levels; Upside Pressure Fades But Too Soon to Call a Top
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US dollar continues to trade strongly amid rising yields and Middle East tensions, but may have stalled after Powell's comments.
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EUR/USD paused slide at key 1.0500 support. Needs to break 1.0635 for meaningful rebound.
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GBP/USD appears to be searching for a bottom around 1.2300 support. Strong converged support at 1.1800.
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AUD/USD struggling to hold 0.6285 support and risks further losses without breaking 0.6525 resistance.
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Technical analysis suggests upside pressure on US dollar may be fading but too soon to call a top. EUR/USD, GBP/USD, AUD/USD appear tilted sideways to down for now.