USD Majors Test Critical Levels Post-NFP

The USD Majors are testing critical levels following the Non-Farm Payrolls (NFP) report. Technical strategist Michael Boutros has identified key support and resistance levels for major currencies, commodities, and equity indices into the start of the week. The next Weekly Strategy Webinar is scheduled for Monday, October 12 at 8:30am ET, with event risks including FOMC minutes, EU retail sales, and Canada employment data.

Sterling (GBP/USD) is testing critical support at the 2026 low-week close and the 38.2% retracement of the 2025 advance at 1.3194. The currency has been trading within a 3% range since March, with a break below this level potentially marking a resumption of the late-August downtrend. Initial resistance is near the monthly open at 1.3264/73, with key resistance at 1.3298-1.3302. A breach above this threshold would suggest a more significant near-term low is in place.

The Australian Dollar (AUD/USD) has responded to confluent support at the 88.6% retracement of the June advance and the 25% parallel of the September pitchfork at 6908. The recovery has extended more than 1% off the low, with resistance eyed at the 61.8% retracement at 7008. A breach above this level would indicate a more significant low is in place. A break lower would threaten another bout of losses towards the June low at 6865.

The Canadian Dollar (USD/CAD) is testing major Fibonacci resistance at fresh yearly highs, with key resistance at the 61.8% retracement of the 2025 decline at 1.4292. A topside breach above this level would mark uptrend resumption, while a break below initial support at 1.4235/39 would suggest a more significant high is in place. Key data releases this week include Canada employment data on Friday.