USDX (USD Index)
U.S. dollar index made another bullish attempt to break above the 100.00 area. However, the index could not print a new higher high, and it stay inside the green box area. The index might continue to consolidate near the daily SMA 200. On the lower side, a new lower swing low below 98.96 will confirm the continuation of the bearish leg. On the upside, a new higher swing high will confirm the continuation of bullish trend.
EUR/USD
EUR/USD made a slow upward push after holding above the 1.1580 support level. However, the pair could not print a strong breakout, and it trades near the previous swing high. The pair might continue to move sideways near the current level. On the lower side, a new lower swing low below 1.1500 will open the path to test daily SMA 200. On the upside, a new higher swing high and close above 1.1710 will confirm the bullish continuation.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD made a recovery from the 1.3125 support area and reached the 1.3250 level. However, the pair could not print a new higher swing high, and it is currently trading sideways. The pair might continue to consolidate near the 1.3250 and daily SMA 200. On the lower side, 1.3000 – 1.3050 is the major support area to watch. On the upside, a close above daily SMA 200 will become the initial confirmation of bullish continuation.
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 made a pullback from the 157.90 high and bounced from the green box area. There is bullish attempt today, but the pair mostly trading inside previous day’s range. Despite the situation, we expect the pair to continue the bullish movement and target 158.89, 159.63 and 161.82.
Today’s critical levels to watch:
Support: 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD continue pressuring to the upside and building bullish pressure. No breakout yet and consolidation will continue for now. If the pair turn lower again, then we don’t want a movement below 0.6500. The next higher swing high or lower swing low might become the confirmation of next direction.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700