USDX (USD Index)
U.S dollar index is currently attempting to stabilize and make a bullish recovery. If the index moving upward, then the 101.79 will become an upward target to watch. The index might extend the bullish movement toward 103.00 if it has strong momentum. Traders will use the bullish correction in U.S. dollar index as a chance to enter short positions in U.S. dollar.
EUR/USD
EUR/USD is limited inside the 1.1300 – 1.1360 area today, which confirm the validity of area. The pair might turn lower to start a bearish correction. On the lower side, 1.1000, 1.1120 – 1.1185 will become the levels to watch for bounce reactions. When the pair turn lower and form bullish reactions, traders could enter long positions expecting to target 1.1500 and higher.
Today’s critical levels to watch:
Support: 1.1185, 1.1120, 1.1000, 1.0900, 1.0800
Resistance: 1.1300, 1.1360
GBP/USD
GBP/USD sharply higher and reached the 1.3250 level today. The pair has not shown weakness yet, which mean there is chance of bullish continuation to breakout higher. However, if the pair stalled and form bearish reactions, then traders will expect downward movement to test 1.3000, 1.3050, 1.3150 levels. When the pair form bullish reactions near the support levels, trader could enter long positions.
Today’s critical levels to watch:
Support: 1.3150, 1.3050, 1.3000
Resistance: 1.3250
USD/JPY
USD/JPY has reached the level near 142.00, and it looks like the price stalled right now. If the pair start moving upward, then 145.00 and 147.43 will become the bullish target to watch. We still expect the bearish trend to continue, and each bullish correction in the pair is a chance for traders to enter short positions.
Today’s critical levels to watch:
Support: 142.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD sharply higher and it manages to breakout above 0.6350 today. It seems the bullish movement will continue to target 0.6500 and daily SMA 200. The pair has recovered the entire bearish movement which happened at the beginning of the month. We expect the bullish movement to continue and a breakout above daily SMA 200 in few weeks.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700