USDX (USD Index)
U.S dollar index continue the upward movement and looks will retest the 100.00 level if there is no change to the situation. As we mentioned before, a close above 100.00 might cancel the bearish outlook on the index. For now, traders will observe closely the market reactions near the 100.00 level.
EUR/USD
EUR/USD under bearish pressure and pushed below the 1.1580 support level. The pair gradually losing ground and might extend the bearish movement to target the 1.1500 level. Traders will observe the pair reactions near the support levels. When there is strong bullish reactions, traders could consider entering long positions.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD keep falling below the daily SMA 200, and it is currently trading near our invalidation level. It seems that the bear has taken over the market and there is no retaliation from the bull. Under current situation, it is better to see more confirmation whether the pair could close below 1.3125 or bounce from it.
Today’s critical levels to watch:
Support: 1.3125, 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY climb to new swing high and will target the 127.2% Fibonacci extension level. As we mentioned before, when the pair claimed the level above green box area, the trend will turn bullish. As the trend is bullish, traders will wait for bearish corrections in the pair for a chance to enter 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 gain stopped at the top of green box area and looks turning lower. Technically, the pair printed a new lower swing high, which mean the situation is not bullish. If the pair extend the bearish movement below 0.6500 and print a new lower swing low, then the trend might turn bearish. A close below daily SMA 200 might become the confirmation that the bearish trend will start.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700