USDX (USD Index)
The U.S. dollar index leaving the 100.00 handle and keep moving lower. It might be a bearish continuation confirmation. But, a breakout below the trend line might become the final confirmation of the bearish continuation. Traders will maintain bearish outlook on the index for now and will wait for bearish confirmation to add more short positions in U.S dollar.
EUR/USD
EUR/USD building more bullish pressure and currently trading above the 1.1580 level. The pair might continue the upward movement to the 1.1710 level immediately. A close above 1.1710 will confirm the continuation of bullish trend. Meanwhile, if the pair turn lower again, close below daily SMA 200 then the situation will turn bearish.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD maintain the position above 1.3125 and will attempt to move higher to test the daily SMA 200 & 1.3250. A close above both levels will confirm bullish continuation. Meanwhile, if the pair get rejected and turn lower again to print new lower swing low, then the trend will turn bearish.
Today’s critical levels to watch:
Support: 1.3050, 1.3000
Resistance: 1.3125, 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY hanging near the high and looks ready to continue the upward movement. On the upside, the pair will target 155.00 and 147.34 level. We don’t expect a bearish correction to happen near the current level. If the pair turn lower and print a lower swing low, then there might be a change of trend to bearish.
Today’s critical levels to watch:
Support: 151.00, 150.00, 149.20, 145.00, 142.00,
Resistance: 153.00
AUD/USD
AUD/USD gaining above the 0.6500 level and currently trading near the green box area. The pair might target the top of box area and continue the consolidation. There is chance of bullish breakout and continuation to test 0.6700 – 0.6750 area too. Traders who has long positions will place stop order below the daily SMA 200.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700