USDX (USD Index)
U.S dollar index printed a bullish close above the 99.40 resistance level and there is a bullish continuation today. However, the bullish movement lost upward pressure and currently trading back to its opening level. Traders will wait for the release of the FOMC minutes of the meeting today. If the index gets rejected from the 99.40 resistance level then it might consolidate between 97.50 – 99.40 next.
On the other hand, a bullish close above 99.40 will bring the index further upward to test 100.00.
EUR/USD
EUR/USD traded lower and currently sticks near the 1.0900 support level. The pair will attempt to bounce and close above 1.1000 to reverse the current bearish trend. If the pair continues the downward movement and close below 1.0800 then the long-term bearish trend is set to continue.
Today’s critical levels to watch:
Support: 1.0900, 1.0800
Resistance: 1.1000, 1.1120, 1.1185
GBP/USD
GBP/USD continues moving lower and tests the 1.3050 support level. The pair maintain the level above the support level but not far from the 1.3000 support level. If the pair continues to build bearish pressure and closes below 1.3000 then the long-term bearish trend is set to continue. On the other hand, a bounce from the current level followed by a close above 1.3250 is bullish confirmation.
Today Critical level to watch:
Support: 1.3125, 1.3000
Resistance: 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY has not stopped moving upward as the pair continue printing bullish closes on the daily chart. There is no reason for traders to enter short positions. At the current time, traders will continue waiting for a bearish correction toward support levels to enter long positions.
Today’s critical levels to watch:
Support: 120.00
Resistance: 125.00
AUD/USD
AUD/USD broke above the orange box area and close above the area. It confirmed the long-term bullish reversal and suggest traders switch to a long strategy. If the pair make a bearish correction then traders could use the orange box area as a place to enter long positions.
Today critical levels to watch:
Support: 0.7550, 0.7500, 0.7450
Resistance: 0.7640, 0.7690