USDX (USD Index)
U.S dollar index hangs near the high after the previous day’s bearish close. The index situation is bullish and might continue the upward movement to print a new higher high. Traders will continue avoid short positions in the U.S dollar as long as the index continues printing a new higher high and higher low.
EUR/USD
EUR/USD stick near the parity level after the bearish close. The pair might continue to stick near the level, for now, waiting for reactions. If the pair could bounce from the level then there is a chance for an upward correction toward 1.0339. On the other hand, further bearish continuation might happen without any bullish correction.
Today’s critical levels to watch:
Support: 1.0000
Resistance: 1.0339
GBP/USD
GBP/USD currently trades near the 1.1450 support level and waiting for further reaction. If the pair could bounce from the level then it could continue upward to target the 1.2000 – 1.2200 area. A close below the level and a new lower low will confirm a bearish continuation. It is better to wait until a bullish correction or a new lower low is printed before entering positions.
Today’s critical levels to watch:
Support: 1.1450
Resistance: 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY made a bearish close yesterday but continue to maintain the level near the top. There are no major bearish reactions yet which means the overall trend will continue bullish. If the pair start a new bearish correction then traders could wait near the support level for a chance to enter long positions.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance:
AUD/USD
AUD/USD bounced from the level near 0.6700 yesterday. However, there is no bullish continuation today and the pair is under bearish pressure. If the pair continues moving lower and print a lower low then the bearish trend will continue. On the upside, a close above 0.6820 will confirm a bullish correction toward 0.7000.
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700
Resistance: 0.7000, 0.7160, 0.7300