USDX (USD Index)
U.S dollar index latest upward attempt could not print new higher swing high and the index now start to move lower again. It might be an indication of the start of a new bearish leg. Traders who has short positions in U.S. dollar will continue to hold it for now. No change to the latest situation, if the index could climb and close above 100.00 then the trend might turn bullish.
EUR/USD
EUR/USD moving upward and soon will reach the 1.1710 resistance level. The pair found support at the 1.1580 level and looks will continue the bullish trend. However, if the pair get rejected from the 1.1710 and no new higher swing high printed, then there is chance of another bearish attempt toward 1.1500.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD has reached the 1.3450 level and will attempt to breakout higher. On the upside, a close above 1.3600 will become the major bullish confirmation. Meanwhile, a close below daily SMA 200 or 1.3250 might become the initial bearish confirmation. A breakout and close below 1.3125 will invalidate the current bullish trend.
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 resume the bearish movement and looks will test the 150.00 level soon. If the level could not hold, then there is chance of downward continuation to target a gap close. Under current situation, traders better wait for bullish reaction from the support levels before entering long positions.
Today’s critical levels to watch:
Support: 151.00, 150.00, 149.20, 145.00, 142.00,
Resistance: 153.00
AUD/USD
AUD/USD continue trading near the 0.6500 level for now as the bull attempting to maintain the level. If there is bearish continuation, then we might see the pair target the daily SMA 200. We maintain bullish outlook on the pair and will wait until the pair stabilize and form strong bullish reaction. There are stop order stacked below the daily SMA 200 and could become the sweep target for false breakout.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700