Market Open: Dollar Presses Higher as Key FX Levels Crack – August 10, 2026

EUR/USD Breaking Down – 0.8650 Now the Line

EUR/USD is already leaning heavy into the European open, trading at 0.8654 and down -0.17%. The pair faded through Friday’s support and is now sitting right on a key intraday shelf.

The 0.8650 zone is critical. It held multiple times late last week, and we’re now seeing price compress just above it. A clean break below opens the door toward 0.8620, with little structure in between.

On the flip side, if buyers step in, we’d need to see a reclaim of 0.8680 to shift momentum. Until then, rallies look like sell opportunities.

• •Key level: 0.8650 support – break targets 0.8620
• •Invalidation: Move back above 0.8680 flips short bias

GBP/USD Weaker Structure – Sellers in Control

Cable is even softer, down -0.41% to 0.7405 and showing a clearer bearish structure. Unlike EUR/USD, GBP/USD already broke its prior range low and hasn’t looked back.

The next downside level sits around 0.7380, which lines up with a previous consolidation zone. If we see continuation through London, that’s the magnet.

Any bounce into 0.7430–0.7440 should be watched for rejection. That zone now acts as fresh resistance after the breakdown.

• •Key level: 0.7380 downside target if momentum holds
• •Sell zone: 0.7430–0.7440 resistance retest

USD/JPY Grinding Higher – Watching 159.00

USD/JPY continues its slow grind higher, now at 158.64 (+0.19%). This isn’t explosive, but it’s persistent—and that’s what matters.

Price is approaching the psychological 159.00 level, which has capped upside attempts before. Expect liquidity to build there.

If we break and hold above 159.00, the next extension could come fast toward 160.20. But if price stalls, we could see a pullback into 157.80 as the first meaningful support.

• •Key level: 159.00 resistance – breakout or rejection zone
• •Support: 157.80 first pullback level

Commodity FX Diverging – CAD Strength Stands Out

USD/CAD is one of the cleaner movers this morning, down -0.5% to 1.394. That’s a decisive push lower, breaking beneath the 1.3970 support zone.

This shift puts 1.3900 in focus quickly. If oil stays bid, CAD could continue to outperform into the US session.

AUD/USD, meanwhile, is softer at 1.4158 (-0.32%) and failing to hold above 1.4200. That level now flips into resistance, and unless reclaimed, downside toward 1.4100 looks likely.

We’re seeing a split here—CAD strength vs broader risk softness. That divergence can create cleaner setups if it persists.

• •USD/CAD level: 1.3900 next downside target
• •AUD/USD level: 1.4200 now resistance, 1.4100 target

Key Takeaways

The dollar is pressing into key levels across the board, and early breaks could set the tone for the entire session.

• •Watch EUR/USD 0.8650 – a break likely accelerates downside momentum
• •Fade GBP/USD rallies into 0.7430–0.7440 while structure remains bearish
• •Track USD/JPY at 159.00 for a breakout or sharp rejection setup