USDX (USD Index)
U.S dollar index slightly higher today after the index touched the level near 97.43. The bearish movement might stall for the moment and continue toward 93.97 level next. If the index turned upward, then the 100.00 level is the resistance level to watch. No change in the bearish strategy, traders could wait for bullish pullback to enter short positions in U.S dollar near resistance level.
EUR/USD
EUR/USD pushed lower today but maintain the position above the 1.1500 level. The pair looks stabilizing inside the 1.1500 – 1.1580 area and might attempt to breakout higher. If the pair continue moving lower, then the 1.1300 – 1.1360 area will become the place to look for bounce reaction. Under the current situation, traders will continue to hold long positions and use each bearish pullback in the pair as a chance to add more long positions.
Today’s critical levels to watch:
Support: 1.1360, 1.1300, 1.1185, 1.1000
Resistance: 1.1500, 1.1580
GBP/USD
GBP/USD is consolidating inside the 1.3450 – 1.3600 area and no breakout yet. The pair will continue the consolidation for now, and it might break out after next week FOMC meeting. However, if no breakout happens, then the consolidation will continue until the end of the month. July might be crucial for the market as tariff pause reach an end. If the pair turned lower, then the 1.3250 is the support level to watch. On the upside, the pair might target 1.3800 and 1.4000.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY turned upward again today, inside the 142.00 – 145.00 range. No change to the pair situation yet, which is sideways for now. Traders will wait for the pair to breakout and close outside the 142.00 – 145.00 range to confirm the next direction. In the long-term, we still see the pair continue the bearish movement to target 140.00 and 138.00.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD stick near the top of green box area or the 0.6500 level. The pair under bearish pressure today, but it looks like it will close the week near 0.6500. If the pair continue under bearish pressure and fall toward daily SMA 200 or the bottom of green box area, then traders could use it as a chance to enter long positions. No change to the ranging situation of the pair for now, next week might give better clue on the direction.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700