USDX (USD Index)
U.S dollar index closed lower for three days and might continue the bearish movement to print new lower swing low. If the index turn higher again from the current level, then we will have a higher swing low. It will indicate further upward movement to retest the 100.00 level. It seems the key for bearish continuation is a breakout below 97.43.
EUR/USD
EUR/USD is moving upward and currently testing the 1.1710 level. If the pair could break out and close above the level, then there is a chance of continuation toward 1.1820. On the other hand, if the pair experience strong bearish rejection from the 1.1710 level, then we might see downward attempt to target 1.1500 and daily SMA 200.
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 currently testing the 1.3450 resistance level and will attempt to breakout above it. However, the pair seems losing the upward pressure which might ended with bearish rejection. There is a chance the pair start a consolidation near the 1.3450. On the upside, a close above 1.3600 will confirm bullish continuation.
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 losing more ground and has reached the 150.00 level today. If the pair could not hold out the level, then we might see downward attempt to target the gap close and daily SMA 200. Traders will wait until the pair stop making bearish close on the daily chart before entering long positions. Let the market exhaust itself and provide better confirmation to enter.
Today’s critical levels to watch:
Support: 150.00, 149.20, 145.00, 142.00,
Resistance: 151.00, 153.00
AUD/USD
AUD/USD push lower below the 0.6500 level again. The pair might continue lower to test the daily SMA 200 and previous swing low. A breakout and close below the daily SMA 200 might become the confirmation that the trend has turned bearish again. If the pair could bounce upward from the current level, then the consolidation near 0.6500 will continue.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700