USDX (USD Index)
U.S dollar index has reached the level near swing low 103.34. It shows slight bounce reaction today, which might develop into a bullish correction. If the index resumes the bullish movement, then the daily SMA 200 will become the resistance level to watch. If the index gets rejected with strong bearish momentum, then traders could expect bearish continuation to target 100.00 next.
EUR/USD
EUR/USD extended the bullish movement and reached the level near 1.0900. The upward movement of the pair might be overstretch above the 1.0800 level. If the pair start a bearish correction, then traders could wait near daily SMA 200 and 1.0650 for bullish reactions. When there is bullish reaction, traders could add more long positions, expecting the bullish trend to continue.
Today’s critical levels to watch:
Support: 1.0650, 1.0500, 1.0339
Resistance: 1.0800
GBP/USD
GBP/USD attempting to continue the bullish trend toward the 1.3000 level. At the current time, the pair is trading at the middle of 1.2800 – 1.3000. If the pair started a bearish correction, then 1.2800 and the daily SMA 200 are support levels to watch for bullish reactions. Traders will continue to accumulate long positions now as the bullish trend has been confirmed with the climb above daily SMA 200 and 1.2800.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200
Resistance: 1.3000
USD/JPY
USD/JPY pushed lower and printed a new lower low today. The pair is on the path lower to target 145.00 then 142.00. Direction of the trend is bearish now as U.S. dollar index weaken and the prospect for rate-hike or tightening monetary policy by BOJ getting higher. If the pair turn upward, then traders will use it as a chance to add short positions near the resistance level.
Today’s critical levels to watch:
Support: 149.20
Resistance: 150.00, 151.00, 151.80
AUD/USD
AUD/USD slightly lower today after the test on 0.6350 resistance level. The pair situation might be bearish for now, but we think the pair will continue the bullish movement and print a new higher high. The pair need to climb and print a new higher swing high immediately, otherwise the trend might turn bearish again.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700