USDX (USD Index)
U.S dollar index extended the bullish movement and soon will reach the daily SMA 200. As planned before, traders will wait for bearish reactions near the averages for confirmation to enter short positions in U.S. dollar. There is possibility that the index might move sideways near the averages before reactions. Nevertheless, we continue to maintain a bearish target at 100.00.
EUR/USD
EUR/USD trading lower below the 1.0800 level and almost reached the daily SMA 200. The pair will test the support level soon and traders will wait for reactions. Strong bullish reactions from the daily SMA 200 or 1.0650 will become an indication to enter long positions.
Today’s critical levels to watch:
Support: 1.0650
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD on the path lower after the rejection from 1.3000 resistance level. The pair has 1.2800 and daily SMA 200 as bearish target to watch. When the pair reaches the support levels and produces strong bullish reactions, traders could consider entering long positions. However, if the pair continue lower and print a new lower swing low, then the trend might turn bearish again for long-term.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200
Resistance: 1.3000
USD/JPY
USD/JPY is consolidating between 149.20 – 151.00 area. The pair might continue sideways for several days and traders will wait for breakout and close outside the area. When the pair close outside the area, traders will get confirmation on the next direction. Overall, we think the pair will resume the bearish trend and print a new lower swing low, also lower swing high.
Today’s critical levels to watch:
Support: 145.00
Resistance: 149.20, 150.00, 151.00, 151.80
AUD/USD
AUD/USD mostly sideways inside the triangle area. There is no change to the current ranging situation of the pair. Traders will continue waiting for breakout and close outside the range to confirm the next direction. Despite the situation, we think the pair has bullish tendencies and will continue the upward movement to 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