USDX (USD Index)
U.S dollar index bullish pressure reversed in today trading session. The index now trade below the opening level and might close the day as a bearish pin bar pattern. If the index continue moving lower in the coming week then it will target the 110.00 support level. Traders will observe the index movement near the support level. If there is major bullish reactions then traders could enter long positions.
EUR/USD
EUR/USD trading at the middle of 0.9500 and the parity level. The pair might continue consolidating for now inside the area and traders will wait for close outside of the range. If the pair could close above the parity level then it will continue the upward movement to target 1.0339 and daily SMA 200.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD pushed lower today but managed to recover the loss. The pair is expected to continue the consolidation near the 1.1450 resistance level. If the pair close above the resistance level then it could continue upward to target the 1.2000 – 1.2200 area. On the other hand, a bearish rejection from the current level could bring the pair down to the target 1.0500 and parity level.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY shows a major bearish rejection from the 150.00 level. It could become a major bearish reversal to bring the pair down. On the lower side, traders will monitor the pair reactions near the 145.00 level. If the pair could reverse the bearish pressure and bounce from the level then 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 trading upward after bearish pressure today. The pair will attempt to close above the previous week’s high and continue the bullish movement toward 0.6500 and 0.6700 levels. Traders will wait near the resistance levels for a chance to enter short positions when bearish reactions happen.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000