USDX (USD Index)
U.S dollar index looks trading upward today but limited inside previous day’s range. The index situation has not changed, it is expected to continue moving lower to target the daily SMA 200. However, if bullish reversal happen at the current level then the index will form a new higher swing low. If the index launch upward with strong momentum then the bullish trend will continue.
EUR/USD
EUR/USD mostly sideways near the 1.0500 level. The pair is continuing to test the level and will look for breakout upside. On the upside, 1.0650 and daily SMA 200 will become the bullish target to watch after breakout. On the lower side, 1.0339 is the level to watch as support level. We could say, the range between 1.0339 – 1.0500 has not broken yet.
Today’s critical levels to watch:
Support: 1.0339, 1.0200, 1.0100, 1.0000
Resistance: 1.0500, 1.0650, 1.0800
GBP/USD
GBP/USD attempting to continue the bullish movement and move above the daily SMA 200. At the current time, the pair trapped between 1.2625 and daily SMA 200. If the pair could break out and close above the daily SMA 200 then traders will get confirmation of the bullish continuation.
Today’s critical levels to watch:
Support: 1.2625, 1.2200
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY slowly pushed lower but no major bearish movement yet. The pair has not printed a new lower swing low, but it might happen soon. When the pair closed lower and print a new lower swing low, then the bearish trend could continue. At the current time, 151.00 and daily SMA 200 are the resistance levels to watch.
Today’s critical levels to watch:
Support: 149.20
Resistance: 150.00, 151.00, 151.80
AUD/USD
AUD/USD turned lower today with moderate bearish momentum. The pair distancing itself from the 0.6350 resistance level and might attempt to continue the bearish trend. However, we think the pair turning lower to find liquidity at lower level before making another bullish attempt. The next bullish leg will target 0.6500 and daily SMA 200.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700