TGIF.The USD is little changed to start the North American session as traders await the US January PPI report at 8:30 AM ET. Expectations are for a +0.3% MoM increase, while the YoY rate is forecast to ease to 2.6% from 3.0%. The dollar is trading mixed against the major currency pairs — EURUSD, USDJPY, and GBPUSD — as markets look for the next catalyst.EURUSDThe EURUSD has moved back above its converged 100- and 200-hour moving averages near 1.1800, a level that now serves as the key barometer for both buyers and sellers today.If buyers can maintain control above those moving averages, the next upside focus shifts toward the 50% midpoint of the 2026 trading range at 1.1830, an area that capped gains yesterday. Monday’s high at 1.1834 reinforces this resistance zone. A sustained break above both levels would strengthen the bullish bias and open the door toward 1.1860, followed by 1.1890.On the downside, a move back below the hourly moving averages would shift attention to a swing support area between 1.1760 and 1.1778. A break below that region would target the 100-day moving average near 1.1693 as the next major downside objective.For the week, the pair has traded within roughly a 70-pip range, highlighting a non-trending environment. Such compression typically precedes a larger directional move once a breakout occurs.USDJPYThe USDJPY moved lower during the Asian-Pacific session and briefly dipped below its 100-hour moving average (155.76), but downside momentum quickly faded. The pair rebounded and stalled against a swing resistance area between 156.20 and 156.28.Heading into North American trading, the 100-hour moving average acts as close support, while the swing area above serves as resistance. Traders will look for a decisive break on either side, with momentum likely following the direction of that breakout.GBPUSDThe GBPUSD has traded in a choppy range today. During the early European session, sellers leaned against the converged 100- and 200-hour moving averages near 1.3508, triggering a rotation lower toward 1.3475.On the downside, the 200-day moving average at 1.3445 remains the key technical level. The pair has tested this moving average five times recently, producing only modest breaks (about 8 pips) without sustained momentum. A clearer bearish bias requires a firm break and hold below this level.On the topside, a move back above 1.3508 would shift momentum back toward buyers, targeting resistance near 1.3537, followed by swing resistance zones at 1.3582–1.3590. This article was written by Greg Michalowski at investinglive.com.