USDX (USD Index)
U.S dollar index made another bearish close and slowly moving lower. The index might be moving upward today, but the direction still bearish. If the index could print a new lower swing low, then the bearish trend could continue. However, if it fails to print a new lower swing low, climb above 100.00, then the trend might turn bullish for medium-term.
EUR/USD
EUR/USD bullish climb reach the 1.1710 resistance level and experience slight bearish rejection. Despite the situation, the pair trend is bullish and will attempt to extend the upward movement to print a new higher swing high. A close above 1.1820 will become the major bullish confirmation to watch. On the lower side, if the pair fall below 1.1300 then the situation could turn 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 made a close near the 1.3450 level with strong bullish close. The pair looks trading sideways today near the level as the test on 1.3450 – 1.3600 is in progress. If the pair could break out and close above 1.3600 then we will have a new higher swing high which confirm a bullish continuation. On the lower side, 1.3000 will become our invalidation line for the current bullish movement.
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 this week after the massive bearish move from above 150.00. The pair has not printed a new lower swing low which mean there is chance of bullish reversal. If the pair start to climb, print new higher swing high and close above the green box area, then the trend will turn bullish. On the lower side, it will become important to close below 145.00.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD managed to close above 0.6500 resistance level which confirm the upward movement to target the top of broadening pattern. If the pair could continue the bullish movement, then the 0.6700 – 0.6750 will become the bullish target to watch. On the lower side, a close below 0.6500 might push the pair down to test daily SMA 200.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700