USDX (USD Index)
U.S dollar index extended the bearish move and slowly moving lower. It is soon will reach the previous swing low to test it. If the index could break below the swing low, then traders could expect the continuation of bearish trend. However, if the index reverse and moving upward, close above 100.00, then the situation will turn bullish.
EUR/USD
EUR/USD make a bullish attempt and experience bearish rejection at the 1.1710 resistance level. The pair need to climb above the level and print new higher swing high to confirm the continuation of bullish trend. We have two lower swing low now. If the pair print new lower swing high, practically it is the confirmation that the trend has turned to bearish.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD moving upward with moderate bullish momentum today. It is nearing the 1.3450 resistance level and soon will test it. The area between 1.3450 – 1.3600 is the area to watch for reactions. If the pair could break out above the area and print a new higher swing high, then the bullish trend could continue. On the other hand, if the pair turn lower without printing a new higher swing high, then the pair might move lower to retest daily SMA 200.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3450, 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY mostly sideways for few days after the massive bearish rejection from the 150.00 and daily SMA 200. The pair might be in pause mode before continuing the bearish movement to breakout below the previous swing low. When the pair fall below the swing low, it will confirm the continuation of bearish trend. On the other hand, if the pair could climb again and print new higher swing high, then it will cancel the bearish outlook.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD made a bullish attempt above the 0.6500 level, but immediately pushed back to the opening level. The pair might consolidate near the 0.6500 level now. We expect the pair to continue the upward movement to respect the broadening pattern. However, if the pair got rejected from 0.6500 and turn lower again, then traders will prepare for movement toward 0.6350 and daily SMA 200.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700