USDX (USD Index)
U.S dollar index moving steadily near the 103.82 level and currently building more bullish pressure. The index might continue the upward movement to target the daily SMA 200. However, if the index reverses the direction and prints a close below 103.82 again then we might see a bearish continuation to target the 100.00 handles. On the upside, when a retest on the daily SMA 200 happens, traders could consider entering short positions in U.S. dollar.
EUR/USD
EUR/USD maintains the position near the 1.06500 support level. However, the pair come under bearish pressure today and might resume the bearish movement toward the 1.0339 and the daily SMA 200. If the pair reverse the bearish pressure and bounce from 1.0650 then we might see upward movement to target 1.0800 and 1.1000.
Today’s critical levels to watch:
Support: 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD is moving as expected inside the 1.2000 – 1.2200 area and near the daily SMA 200. There is no breakout and close outside of the range yet which means the consolidation will continue. At the current time, traders will continue waiting for the pair to close outside of the range to get confirmation on the pair’s next direction.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY on the path toward the daily SMA 200. There is no bearish sign yet which means traders could wait near the daily SMA 200 for bearish reactions and a chance to enter short positions. On the lower side, a close below the green box area will confirm a bearish continuation.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD bounces from 0.6820 is not sustained as the pair erased all of the gains and trade back toward 0.6820 and the daily SMA 200. As long as the pair could maintain the positions above the levels then there is chance of bounce and bullish continuation to target 0.7000 and 0.7160 resistance level. A close below daily SMA 200 might confirm long-term bearish continuation.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000