USDX (USD Index)
U.S dollar index maintains a bullish outlook and continues the upward movement. The index is expected to target the daily SMA 200 and the 103.50 level. When the index formed bearish reactions near the resistance level, traders could enter short positions targeting a new lower swing low. On the lower side, 102.00 is the support level to watch for bounce reactions.
EUR/USD
EUR/USD was mostly lower and extended the bearish movement below the 1.1000 level. The pair might target the 1.0900 and daily SMA 200 level. Traders could monitor the pair reactions near both levels for bullish reactions. When the pair could bounce from the levels, traders could enter long positions targeting a new higher swing high.
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 on the path lower to test the 1.3000 level. The pair is currently trading between the 1.3050 – 1.3125 area and traders will wait for further reactions. Even though the pair breaks below the 1.3000 level, the trend will not change as long as it stays above the daily SMA 200. Despite the situation, it is better to stay sideline for now until further confirmation. (Either break below 1.3000 or bounce from it)
Today’s critical levels to watch:
Support: 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3450
USD/JPY
USD/JPY is under bearish pressure but immediately recovered near its opening level today. The pair might attempt to extend the upward movement to target the 150.00 and daily SMA 200 level. No change to the outlook of the pair yet, traders will monitor the reactions near resistance levels. When there are bearish reactions, traders could enter short positions expecting the long-term bearish trend to continue.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00, 155.00
AUD/USD
AUD/USD extended the bearish movement without any bullish reactions. The pair has fallen for four consecutive days and the bearish movement is unchanged. If there is no change to the situation, the pair will test the 0.6700 support level soon. Traders will wait for reactions near the 0.6700 level and the daily SMA 200 if the pair manage to reach it. When the pair form major bullish reactions, traders could enter long positions.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500
Resistance: 0.6820, 0.7000