USDX (USD Index)
U.S dollar holding out near the high as traders are awaiting the release of U.S inflation data. There is no bearish indication and the index is getting near the previous swing high. If the index manages to print a new higher high then the bullish trend is set to continue. On the other hand, a bearish correction toward 110.00 might be another chance for traders to add long positions in the U.S dollar.
EUR/USD
EUR/USD slowly moving lower but has not reached the 0.9500 support level yet. At the current time, the pair could either move lower and print a new lower low or it could turn higher and make a close above the parity level. A close above parity will confirm a bullish continuation toward 1.0339.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD failed to print a bullish close yesterday after trading on the bullish side the entire day. The pair extended the bearish close and might continue lower to target 1.0500 and the parity level. At the current time, the pair is trading upward again, similar to yesterday’s situation. Will the pair reverse the bullish movement and close lower at the end of the day?
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY trading upward again, extending the bullish movement to print a new higher high. The pair is set to continue the bullish movement toward the 150.00 resistance level. Traders will wait for the pair to start a bearish correction toward the support level. When the pair reach the support level and show major bullish reactions, traders could enter long positions.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD bearish movement resumed yesterday as the pair print another bearish close. The pair currently trading near the 0.6250 level and might consolidate near it. Traders will monitor the pair reactions after the release of U.S inflation data. If the pair stage a bullish reversal then 0.6500 and 0.6700 are the upward targets to watch.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000