USDX (USD Index)
USDX is moving with bullish pressure today, despite the broader structure still leaning lower. The index has moved above the previous day’s high, signaling short-term buying interest. On the upside, the nearest resistance to watch is at 98.97 where the index may face selling pressure. Traders will treat each bullish movement in the index as a chance to enter short positions in U.S. dollar index for now.
EUR/USD
EUR/USD saw a bearish attempt earlier, but buyers stepped in and a bounce followed. Price is holding above the 1.1710 support level, indicating downside momentum is being absorbed. However, upside remains limited below the 1.1820 resistance level. A breakout and close above 1.1820 will confirm bullish continuation. Meanwhile, a close below 1.1710 might open the path toward 1.1580.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD under pressure today and managed to reach the 1.3300 – 1.3330 area. The pair bounce from the area and recover part of the losses. Despite the situation, situation continue to be bullish and traders will expect a retest on the 1.3450 resistance level soon. A breakout and close above 1.3450 will confirm bullish continuation to target 1.3600.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3450
USD/JPY
USD/JPY shows a strong bullish reaction from the green box demand area. The bull stepped in decisively, confirming the support zone. The current upward reactions happened before BOJ rate decision this week. We might see more volatility after the interest-rate decision as BOJ is expected to raise interest-rate again.
Today’s critical levels to watch:
Support: 153.00, 151.00
Resistance: 155.00, 158.89, 160.00
AUD/USD
AUD/USD bearish correction continue and getting near the green box area. Traders will observe the pair reactions near the area and wait for bullish reactions. When there are bullish reactions, traders could enter long positions with 0.6700 – 0.6750 as upward target.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700, 0.6750, 0.6820