USDX (USD Index)
The bullish situation of the U.S. dollar index printed a new higher high last week but the index closed near 103.82 at the end of the week. At the current time, the index will continue consolidating near the 103.82 level. If the index resumes the bearish movement then traders will expect continuation toward the 100.00 handle. Meanwhile, if the index continues upward then the daily SMA 200 will become the target.
EUR/USD
EUR/USD continues to maintain a position above the 1.0650 level. There was a bearish attempt but no successful close below the 1.0650 level. The pair might continue consolidating near the 1.0650 level and traders will monitor the pair’s reactions. We might see the pair continue consolidating between 1.0650 – 1.0800 for now. Traders might want to maintain a bullish outlook and use the chance to enter more long positions.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD perfectly maintained the position inside the 1.2000 – 1.2200 range. Breakout happened but the pair always manage to close the day inside the 1.2000 – 1.2200 range. At the current time, traders will continue waiting for further reactions inside the range. We think a bullish breakout has a higher chance to happen. But, if the pair continues moving lower and print a new lower low then traders will prepare for a medium-term bearish continuation.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY slowly moving upward above the green box area. There are no major bearish reactions which mean traders will continue waiting for the chance to enter short positions. On the upside, the daily SMA 200 will become the target to watch. If the pair could close the day below the green box area then the bearish trend could continue.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD reached the 0.6820 support level and the daily SMA 200. A bounce happened and now the pair will attempt to add more bullish pressure to continue the bullish trend. On the upside, 0.7000 and 0.7160 will become the bullish target to watch. A close above the 0.7160 level will confirm a long-term bullish continuation.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000