USDX (USD Index)
U.S dollar index turn lower and print lower low today, which might confirm the start of a new bearish leg. However, there is no strong bearish momentum yet to confirm the continuation. Traders will continue to monitor the index movement near the green box area. If there is a close above 100.00 then the situation could turn bullish. Meanwhile, no new higher swing high printed on the chart means the bear still has chance to reverse the current bullish situation.
EUR/USD
EUR/USD extended the upward movement as it bounced from the 1.1580 support level. The pair will attempt to continue the upward movement and test the 1.1710 level. On the upside, a close above 1.1820 is the most vital confirmation for bullish continuation. On the lower side, 1.1500 is the major support level to watch for bounce reactions if the bear could push the pair lower.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD is supported by the 1.3250 and daily SMA 200 yesterday. The pair manage to extend the bullish movement and might be set to retest 1.3450 – 1.3600 area. Traders who enter long positions near 1.3250 and daily SMA 200 will hold the position and target latest swing high or 1.3835 & 1.4000.
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 continue under bearish pressure and might extend the bearish movement toward 150.00. As the pair is in a bearish correction phase, traders could use the lower support level to enter long positions. The pair bullish structure has 146.618 as the latest swing low and invalidation level for the current bullish trend.
Today’s critical levels to watch:
Support: 151.00, 150.00, 149.20, 145.00, 142.00,
Resistance: 153.00
AUD/USD
AUD/USD closed not far from the 0.6500 after flushing stop order below it. The pair attempting to maintain the position near the 0.6500 for now. If the pair could stabilize and continue forming bullish reaction, then there is a chance of immediate bullish bounce. There is also chance of another bearish attempt to target the daily SMA 200, so traders will take that as consideration in trade planning.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700