USDX (USD Index)
U.S dollar index fell for four days and there is no reduction in the bearish momentum yet. The index is trading near the opening level right now and might attempt to extend the bearish move. However, if a bullish correction happens in the index then it will move upward to test the 102.00 level. We think a bearish reaction will happen near 102.00 where traders could consider entering short positions in the U.S. dollar.
EUR/USD
EUR/USD trading inside the 1.1120 – 1.1185 area right now after printing a new higher swing high. The pair will attempt to extend the bullish movement and target the 1.1300 – 1.1360 area next. If the pair started a bearish correction then traders could use the chance to enter long positions. On the lower side, 1.1000 is the major support level to watch.
Today’s critical levels to watch:
Support: 1.1120, 1.1000, 1.0900, 1.0800
Resistance: 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD reached the 1.3125 resistance level and it seems the bullish pressure hasn’t subsided yet. The pair will attempt to break out higher and continue the bullish trend. If the pair start moving lower then 1.3000 will become the major support level to watch for bounce reactions. Traders could use the bearish correction in the pair as a chance to enter long positions.
Today’s critical levels to watch:
Support: 1.2800, 1.2625
Resistance: 1.3000, 1.3050
USD/JPY
USD/JPY is under bearish pressure near the 145.00 support level. The pair failed to climb above 147.00 and experienced a bearish rejection. If the pair could extend the bearish movement below 145.00 then the bearish trend will continue. On the lower side, 141.00, 139.30, and 137.70 are the bearish targets to watch.
Today’s critical levels to watch:
Support: 145.00, 142.00, 141.00
Resistance: 147.00, 150.00, 155.00
AUD/USD
AUD/USD moving bullishly and currently trading near the 0.6750 resistance level. The pair looks limited below the level and might turn lower to test the 0.6700 level. Traders will expect a consolidation to happen between 0.6700 – 0.6750 as the Fed’s Jerome Powell is set to give a speech on Friday. At the current time, each bearish correction in the pair is a chance for traders to enter long positions.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000