USDX (USD Index)
A bullish breakout happened in the U.S. dollar index above the 102.00 level. The index is now on the path upward to target the daily SMA 200 and also the 103.50 level. In the long term, the bearish structure has not broken yet which means traders will wait for bearish reactions near the resistance level. When the index reached the resistance level and formed bearish reactions, traders could enter short positions.
EUR/USD
EUR/USD fell and closed below 1.1000 which means the bearish leg still has more chance to continue. On the lower side, 1.0900 and daily SMA 200 will become the bearish target to watch. If the pair could bounce from the support level and reclaim the level above 1.1000 then the bullish trend could continue. At the current time, it is a waiting game for traders who want to enter long positions.
Today’s critical levels to watch:
Support: 1.0900, 1.0800
Resistance: 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD turned lower and now trading inside the 1.3050 – 1.3125 area. The pair might continue the bearish movement toward 1.3000 level where traders will wait for bullish reactions. If the pair could maintain the positions and bounce from 1.3000 or the daily SMA 200 then traders could enter long positions. We still think the bullish trend will continue but a stop hunt below the support level before a bullish reversal might happen this month.
Today’s critical levels to watch:
Support: 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3450
USD/JPY
USD/JPY trading upward and now has a chance to continue the bullish movement toward 150.00 and daily SMA 200. The pair situation is bullish right now which means better to wait until it reaches the resistance level. When the pair form bearish reactions near the resistance level, it is a chance for traders to enter short positions.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00, 155.00
AUD/USD
AUD/USD pushed lower below the 0.6820 support level which opened the path toward 0.6750 and 0.6700. The pair is in a bearish correction phase now and traders will wait for further reactions. When the pair reach the support level and form bullish reactions then traders could enter long positions targeting a new higher swing high. We think a bullish reversal might happen between the daily SMA 200 and 0.6700.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500
Resistance: 0.6820, 0.7000