Traders await the ADP employment report with an 117K estimate as USD pairs trade near critical technical support and resistance zones.
The U.S. dollar remains largely unchanged but slightly firmer in early trading, with currency pairs hovering near pivotal technical levels. EURUSD trades below its 100-hour and 200-hour moving averages at 1.1633 and 1.1639, failing to break resistance and extending losses to 1.1606. Key support lies between 1.1576 and 1.1586, with downside bias intact while below the moving averages.
USDJPY tested the 160.00 level, reaching 159.99 before retreating below the 100-hour moving average at 159.55. Sellers stalled near the 200-hour moving average at 159.36, with the pair rebounding toward 159.70-160.00. A break above 160.00 could trigger further buying, though intervention risks persist.
Markets await the ADP private payrolls report, with an 117K estimate, which may influence Fed policy expectations and USD direction.