USD Majors Test Key Levels Post-NFP Ahead of Critical Economic Data

The USD Majors are testing critical technical levels following the latest Non-Farm Payrolls (NFP) data, with key support and resistance zones coming into focus for major currency pairs, commodities, and equities. 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 pair has been trading within a 3% range since March, with the focus on possible inflection off this zone. A break below this level could signal a resumption of the late-August downtrend, while a breach above key resistance at 1.3298-1.3302 would suggest a larger trend reversal.

The Australian Dollar (AUD/USD) has rebounded from 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, but intraday momentum has flat-lined, raising questions about the durability of the low. Resistance is eyed at the 75% parallel and the 61.8% retracement at 7008, with a breach above this threshold needed to confirm a more significant reversal.

The Canadian Dollar (USD/CAD) is testing major Fibonacci resistance at fresh yearly highs, with the advance extending more than 4% off the August low. The near-term momentum profile suggests potential exhaustion, with key resistance tested overnight at the 61.8% retracement of the 2025 decline at 1.4292. A topside breach above this level would signal uptrend resumption, while a break below support at 1.4202 would indicate a more significant high is in place.

This week's economic calendar includes the FOMC minutes, EU retail sales, and Canada employment data, which could influence market sentiment and price action. Traders are advised to monitor these events closely and watch the weekly closes for guidance on the next major moves.