USDX (USD Index)
U.S dollar index under bearish pressure as it reached the previous swing low. The index will test the level and attempt to breakout below it. If the index extends the bearish movement, then traders could expect it to target the 100.00 level next. On the other hand, if the index bounce upward from the current level, then the daily SMA 200 is the resistance level to watch.
EUR/USD
EUR/USD closed above the 1.0900 level and currently maintaining the positions near it. The pair might resume the bullish movement to reach the 1.1000 resistance level. It may also turn lower again to retest the 1.0800 and daily SMA 200. If the pair turn lower and manage to test the support level, then traders could use it as a chance to accumulate long positions.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0500, 1.0339
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD extended the bullish movement and almost reach the 1.3000 resistance level. The pair situation is bullish and there is no major bearish sign yet. Traders will expect a test on the 1.3000 level soon and get more confirmation on the next direction. If the pair start a bearish correction then 1.2800 and daily SMA 200 are the support levels to watch for bounce reactions.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200
Resistance: 1.3000
USD/JPY
USD/JPY bounced upward with moderate momentum and reached the 149.20 level. It is a temporary reaction as the pair slowly move back lower after the test. If the pair extended the bullish movement then the 149.20, 150.00 and daily SMA 200 are the resistance levels to watch. On the lower side, traders will expect the pair to continue the bearish movement to target the 145.00 level.
Today’s critical levels to watch:
Support: 145.00
Resistance: 149.20, 150.00, 151.00, 151.80
AUD/USD
AUD/USD formed a triangle pattern where it consolidates right now. The pair might break out from the triangle range soon and move to the breakout direction. We still expect the pair to resume the bullish movement to target the 0.6500 and daily SMA 200. When the pair close above both levels, the long-term trend will turn bullish.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700