USDX (USD Index)
U.S dollar index under pressure for the third day but without strong momentum. It erased the gain of 1 bullish candlestick and might attempt to move higher again. If the bear could push the index further lower, print new lower swing low, then there is chance of bearish continuation. Otherwise, we might see another bullish bounce and upward attempt toward 100.00.
EUR/USD
EUR/USD recover above the 1.1710, but no strong bullish continuation seen. The pair is currently trading inside the 1.1710 – 1.1820 area. It might consolidate inside the range and wait for breakout. If there is bearish continuation, then traders could expect movement to test 1.1580. On the upside, a breakout above 1.1820 might become the key for bullish continuation.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD is limited below the 1.3450 which might put risk of bearish continuation in the pair. On the lower side, if the pair resume the bearish movement, then it might target the daily SMA 200 and 1.3250 level. On the upside, the pair need to climb above 1.3600 and print a new higher swing high to confirm the bullish continuation.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY move further lower below the daily SMA 200 which might become confirmation of bearish continuation. However, the real issue is the need to print a new lower swing low to confirm the bearish continuation. If the pair turn upward and close above daily SMA 200 again, then we might see another attempt on the 150.00 resistance level.
Today’s critical levels to watch:
Support: 149.20, 145.00, 142.00,
Resistance: 150.00, 151.00
AUD/USD
AUD/USD bounced from the green box area with moderate momentum. It left the area and might confirm a bullish continuation. Under current situation, we could assume that the bullish trend will continue. However, if the pair turn lower again and close below the green box area, then the bullish scenario cancelled.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700