USDX (USD Index)
U.S dollar index continues to add a new higher high on the chart and soon will reach the 96.70 resistance level. Without any change in the direction of the index, it is set to target 97.50 and 100.00 resistance levels next. At the current time, traders will only wait for a bearish pullback in the index to enter long positions in the U.S dollar.
EUR/USD
EUR/USD continues the bearish movement below the 1.1300 – 1.1360 area. The pair long-term bearish trend has not changed yet and traders will continue to avoid long positions for now. On the lower side, 1.1185 and 1.1120 are the targets to watch. Further weakness below both levels will bring the pair down to test 1.1100.
Today critical levels to watch:
Support: 1.1300
Resistance: 1.1360, 1.1500, 1.1580, 1.1710
GBP/USD
GBP/USD climbed above the 1.3450 resistance level, however, the bullish pressure was short-lived. The pair is currently under pressure below the 1.3450 and printed a new lower low. Under the current situation, the pair is expected to continue the long-term bearish trend and target 1.3250 also 1.3000.
Today Critical level to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3000
Resistance: 1.3450, 1.3600, 1.3835, 1.4000
USD/JPY
USD/JPY surpassed the 114.50 resistance level and currently testing 115.00. The pair is set to continue the long-term bullish trend and target the 115.90 resistance level next. Traders will continue to avoid short positions for now as the trend is bullish. Long positions could be considered when there is a major bearish pullback happen.
Today critical levels to watch:
Support: 113.00, 112.00
Resistance: 114.50, 115.00
AUD/USD
AUD/USD broke below the 0.7300 – 0.7330 area and is set to continue moving lower to the target 0.7160 support level. If a lower low is printed and the pair make a major bearish close below 0.7160 then the long-term bearish trend is set to continue. A bullish bounce might happen too from the 0.7160 support level and traders could consider long positions. However, the long position is a speculative one and traders might want to be extremely cautious.
Today critical levels to watch:
Support: 0.7330, 0.7300
Resistance: 0.7450, 0.7500, 0.7550