USDX (USD Index)
A breakout and close below 103.82 happened in the U.S. dollar index. It seems the movement will continue to target the 100.00 handles. At the current time, the index is attempting to move higher and reclaim the 103.82 level. If the index could close above the level with strong bullish momentum then the bearish outlook might be canceled. Next week’s FOMC meeting might give better clue on the long-term direction of the index.
EUR/USD
EUR/USD closed above 1.0650 which confirms a bullish continuation to target 1.0800, 1.0900, and 1.1000. At the current time, the pair looks waiting for further bullish pressure. If the pair moves lower and test the 1.0650 level then traders could use the moment to enter long positions. However, if the pair close below 1.0650 and continue moving lower to print a new lower low then the bearish trend will continue again.
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 closed above the daily SMA 200 and the 1.2100 level yesterday. No breakout and close above the 1.2200 resistance level yet which means traders will need more confirmation. If the pair could close above 1.2200 then the bullish trend will continue toward 1.2625 and 1.2800. However, if the pair move lower again and close below 1.2000 then the bearish trend will continue.
Today’s critical levels to watch:
Support: 1.1450
Resistance: 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY has reached the green box area after the rejection from the daily SMA 200. It seems bounce reactions happen and the pair might attempt to continue moving upward. At the current time, the pair might range between the green box area and daily SMA 200. If the pair close below the green box area then the bearish trend will continue. On the other hand, if the pair managed to close above the daily SMA 200 then the trend will turn bullish.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD managed to stage a bullish movement and closed near the 0.6700 level. However, the pair has not printed close above the level and 0.8750. We might see the pair continue consolidation and waiting for further confirmation. If the pair start moving lower again with strong bearish momentum then traders will observe the pair reactions near 0.6500.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000