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Bank of America

FX Outlook 2026: Structural Dollar Headwinds

LIVE5 December 2025USD bearish
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Technical Strategy

Bank of America key support/resistance levels, pattern analysis, and live price positioning

5
Pairs Analyzed
3
Bullish
2
Bearish
0
Neutral

AUD/USD

Triangle breakout setup above 0.6575

BofA Spot
0.64
↑Bullish
S1 0.6400
S2 0.6300
S3 0.6200
S4 0.6000
R1 0.6600
R2 0.6800
R3 0.7000
R4 0.7200
T1 0.6600
T2 0.6800
T3 0.6900
Spot 0.6400
0.7296
0.5904
Support
Resistance
Targets
BofA Spot
Live Price

Targets

T1
0.66(3.1%)
T2
0.68(6.3%)
T3
0.69(7.8%)
T4
0.7(9.4%)
T5
0.72(12.5%)

Support

S1
0.64(0.0%)
S2
0.63(-1.6%)
S3
0.62(-3.1%)
S4
0.6(-6.3%)

Resistance

R1
0.66(3.1%)
R2
0.68(6.3%)
R3
0.7(9.4%)
R4
0.72(12.5%)

AUD/USD is building a base above 0.64 support with triangle breakout potential. A move through 0.66 would confirm bullish trend toward 0.70. Commodity price backdrop supports the technical setup.

DXY

Head and shoulders distribution below 103 neckline

BofA Spot
100.2
↓Bearish
S1 97.50
S2 95.50
S3 94.00
S4 93.50
R1 100.00
R2 101.55
R3 103.19
R4 104.84
T1 97.50
T2 95.50
T3 94.00
Spot 100.20
105.75
92.59
Support
Resistance
Targets
BofA Spot
Live Price

Targets

T1
97.5(-2.7%)
T2
95.5(-4.7%)
T3
94(-6.2%)
T4
93.5(-6.7%)

Support

S1
97.5(-2.7%)
S2
95.5(-4.7%)
S3
94(-6.2%)
S4
93.5(-6.7%)

Resistance

R1
100(-0.2%)
R2
101.55(1.3%)
R3
103.19(3.0%)
R4
104.84(4.6%)

DXY is forming a multi-month head and shoulders pattern with neckline at 100. A sustained break below 100 would confirm a bearish trend targeting 97.5 initially and 93.5 by year-end. Weekly momentum indicators confirm bearish bias.

EUR/USD

Ascending channel with support at 1.13 and breakout potential above 1.18

BofA Spot
1.15
↑Bullish
S1 1.1300
S2 1.1200
S3 1.1000
S4 1.0800
R1 1.1700
R2 1.1900
R3 1.2100
R4 1.2500
T1 1.1700
T2 1.1900
T3 1.2100
Spot 1.1500
1.2636
1.0664
Support
Resistance
Targets
BofA Spot
Live Price

Targets

T1
1.17(1.7%)
T2
1.19(3.5%)
T3
1.21(5.2%)
T4
1.22(6.1%)
T5
1.25(8.7%)

Support

S1
1.13(-1.7%)
S2
1.12(-2.6%)
S3
1.1(-4.3%)
S4
1.08(-6.1%)

Resistance

R1
1.17(1.7%)
R2
1.19(3.5%)
R3
1.21(5.2%)
R4
1.25(8.7%)

EUR/USD is trading within an ascending channel since the September 2024 lows. A break above 1.17 resistance would open the way to 1.20+ targets. Weekly MACD is bullish and RSI has room to run.

GBP/USD

Bullish flag consolidation above 1.30 support

BofA Spot
1.31
↑Bullish
S1 1.3000
S2 1.2800
S3 1.2650
R1 1.3400
R2 1.3700
R3 1.4000
R4 1.4200
T1 1.3400
T2 1.3700
T3 1.3900
Spot 1.3100
1.4324
1.2526
Support
Resistance
Targets
BofA Spot
Live Price

Targets

T1
1.34(2.3%)
T2
1.37(4.6%)
T3
1.39(6.1%)
T4
1.4(6.9%)
T5
1.42(8.4%)

Support

S1
1.3(-0.8%)
S2
1.28(-2.3%)
S3
1.265(-3.4%)

Resistance

R1
1.34(2.3%)
R2
1.37(4.6%)
R3
1.4(6.9%)
R4
1.42(8.4%)

GBP/USD is consolidating above key 1.30 support in a bullish flag pattern. Upside breakout through 1.34 would target 1.37-1.40 zone. Momentum remains constructive on weekly timeframes.

USD/JPY

Potential double top at 162 with bearish divergence

BofA Spot
157
↓Bearish
S1 154.00
S2 151.00
S3 149.00
S4 147.00
R1 158.00
R2 160.00
R3 162.00
R4 164.00
T1 154.00
T2 151.00
T3 149.00
Spot 157.00
165.68
141.32
Support
Resistance
Targets
BofA Spot
Live Price

Targets

T1
154(-1.9%)
T2
151(-3.8%)
T3
149(-5.1%)
T4
147(-6.4%)
T5
143(-8.9%)

Support

S1
154(-1.9%)
S2
151(-3.8%)
S3
149(-5.1%)
S4
147(-6.4%)

Resistance

R1
158(0.6%)
R2
160(1.9%)
R3
162(3.2%)
R4
164(4.5%)

USD/JPY is showing bearish divergence on weekly RSI near the 162 double top. A break below 154 support would confirm the bearish reversal targeting 147. BoJ intervention zone at 155-160 provides additional downside catalyst.