USDX (USD Index)
U.S dollar index continues building more bullish pressure above the 103.82 level. There is no major bearish sign which means the index could continue upward to target the daily SMA 200. Traders will monitor the index movement near the current level and near the daily SMA 200. When there is major bearish reactions from the daily SMA 200 then traders could enter short positions. On the lower side, a close below 103.82 might bring the index back to its bearish outlook toward 100.00.
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 moving as expected inside the 1.2000 – 1.2200 range and near the daily SMA 200. The consolidation inside the range seems will continue and traders will continue waiting for a breakout and close outside of the range. On the lower side, as long as there is no lower low printed on the chart, the pair has a chance to return to the bullish trend. Traders could use the moment to enter long positions with a tight stop below the previous swing low.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY slowly moving upward toward the daily SMA 200. There are no major bearish reactions to reverse the current upward movement. Traders will wait near the daily SMA 200 for a chance to enter short positions when there is bearish reactions. On the lower side, the pair needs to close below the green box area to confirm further downside.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD made a bearish close near the daily SMA 200 yesterday. No breakout and close below the averages which means a consolidation might happen near it now. Traders will observe the pair reactions near the daily SMA 200. If the pair could maintain the position above it and form bullish reactions then traders could enter long positions with 0.7000 and 0.7160 as an upward targets. On the lower side, a close below the daily SMA 200 will confirm a bearish continuation.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000