Major FX Pairs Coil at Technical Levels as Dollar Consolidates
Major currency pairs remain locked in tight consolidation patterns as the US Dollar Index stabilizes near 106.50 following last week's volatility. EUR/USD continues trading within its 1.0500-1.0600 range, while GBP/USD tests resistance at 1.2650 amid ongoing UK economic concerns. USD/JPY holds steady near 149.50, with the Bank of Japan's policy uncertainty keeping yen traders cautious. USD/CHF demonstrates relative strength, maintaining levels above 0.8850 as safe-haven flows support the Swiss franc. Technical analysis reveals coiling price action across all majors, suggesting an imminent breakout as trading ranges compress. Key support and resistance levels remain intact: EUR/USD (1.0500/1.0600), GBP/USD (1.2580/1.2700), USD/JPY (149.00/150.50). This week's economic calendar, featuring US ISM data and European inflation figures, could provide the catalyst for directional moves after extended consolidation.
Related Symbols:
EURUSD
GBPUSD
USDJPY
USDCHF
DXY
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