USDX (USD Index)
U.S dollar index pushed through the daily SMA 200 and made a close above it. It seems the bullish pressure has not receded yet as the index continues making bullish attempts. At the current time, traders will monitor the index movement near the daily SMA 200. If the index stabilizes and reverses with strong bearish pressure then there is a chance of a bearish reversal.
EUR/USD
EUR/USD stays below the daily SMA 200 and might extend the bearish movement toward the 1.0800 support level. As mentioned before, the pair might test the 1.0800 and make a bearish sweep below it before turning bullish. As long as there is no lower swing low printed, the trend will stay bullish. However, if the pair fall with strong bearish momentum and immediately reach 1.06500 then the trend might turn bearish.
Today’s critical levels to watch:
Support: 1.0800
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD holding out near the 1.3000 support level but slowly losing ground. The pair might attempt to stick near the level and consolidate near it. If the pair could immediately bounce upward then the bullish trend could continue. On the lower side, daily SMA 200 and 1.2800 will become the bearish target to watch if the pair resumes bearish movement.
Today’s critical levels to watch:
Support: 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3450
USD/JPY
USD/JPY continues its upward movement and soon will reach the daily SMA 200. Traders will wait for reactions near the daily SMA 200. If the pair gets rejected with a strong bearish momentum then the bearish trend will continue. However, if a close above the daily SMA 200 happens then traders will prepare for further bullish attempts.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD is under bearish pressure below the 0.6700 level and might attempt to move toward the daily SMA 200. However, the pair showed bullish reactions again today and recovered most of the loss yesterday. We still expect the bullish trend will continue with the daily SMA 200 as a major support level. At the current time, we will wait for the pair to make a close above 0.6750 to confirm the start of a new bullish leg.
Today’s critical levels to watch:
Support: 0.6700, 0.6500
Resistance: 0.6750, 0.6820, 0.7000