The US dollar did move higher after the US PPI data, but the reaction varied across the major currency pairs. Some currencies pushed to new highs versus the greenback, while others remained trapped within established trading ranges. The AUD continues to outperform against the USD, while the CAD is little changed on the day.
EURUSD: The EURUSD is back below its 100-day moving average at 1.17079. Staying below that level keeps the bias tilted more to the downside, with the next key technical target coming at the 200-day moving average and 38.2% retracement level, both converging at 1.16806 today.
USDJPY: The USDJPY remains below the day’s high at 157.89, but is still trading higher by around 0.14%. Strong resistance remains between 157.975 and 158.260. On the downside, it would take a move below the 38.2% retracement of the rally from the February 12 low at 157.495, along with a break below the 100-day moving average at 157.371, to tilt the bias more to the downside.
GBPUSD: The GBPUSD extended to new session lows, but sellers could not push the pair below its 100-day moving average at 1.3481. The low price reached 1.3484 before finding support.
USDCHF: The USDCHF moved above the 50% midpoint of the move up from the January 2026 low at 0.78228. Resistance now comes in at the 100-day moving average near 0.7843. Staying above the 50% midpoint will remain a key barometer for both buyers and sellers going forward.
USDCAD: The USDCAD moved above the 100-day moving average yesterday at 1.3717, but quickly reversed lower, reestablishing resistance between 1.3708 and 1.3717. The high price during the European session reached 1.37085 before backing off, while the post-PPI rally only extended to 1.37034. Sellers continue to keep a lid on the pair against the strong resistance zone overhead.
NZDUSD: The NZDUSD moved to a new session low after breaking below its 200-hour moving average at 0.5932 earlier today. The pair also fell below a swing area between 0.5927 and 0.59355, turning that zone into topside resistance. The low price reached 0.5918 before downside momentum stalled. Traders should continue to watch that former swing area closely for directional clues today and going forward.
AUDUSD: The AUDUSD remains the standout performer and the only major pair still showing notable currency strength versus the US dollar. The USD remains down around -0.8% against the AUD on the day. Following the PPI release, support buyers stepped in just ahead of the 100-hour moving average at 0.72344. The current price is trading near 0.72445. Staying above the 100-hour moving average keeps buyers more firmly in control, with the high for the day at 0.7253 as the next target, followed by recent highs at 0.7259, 0.7263, and 0.7277.
