USDX (USD Index)
U.S dollar index climbs further upside in today trading session, looking to extend the bullish streak to the fourth day. No change yet to the current trend which is bullish. The long-term target for current bullish move is 99.40 – 100.00 area. The nearest resistance is this year high.
EUR/USD
A breakout below 1.1185 happened and EUR/USD confirmed the bearish continuation toward 1.1120. Traders could expect the pair to reach the support level in the coming week. EUR/USD next trend will be determined by the market reaction near the level. Further breakout followed by fresh low is strong confirmation the long-term trend still bearish.
today critical levels to watch:
Support: 1.1120
Resistance: 1.1185, 1.1200, 1.1300
GBP/USD
Stay bearish and stick to the short position is what happened in the GBP/USD daily chart. The pair disregard 1.2800 support level and extend its bearish streak. We have entered the sixth bearish day and it might continue next week. On the chart, 1.2625 is the next bearish target and the level where bullish reaction expected.
Currently, traders could use 1.2800 as a level to enter short positions.
Today Critical level to watch:
Support: 1.2800
Resistance: 1.3000, 1.3125, 1.3250
USD/JPY
The resistance 110.00 act as expected and we have rejection from it today. USD/JPY is under threat for further weakness below 109.00. But the price might not move much and will stay inside 109.00 – 110.00 range today. Next week, the pair will look for a breakout of 109.00 – 110.00 range. Will, it breakout lower and continue its bearish movement?
Today critical levels to watch:
Support: 109.00
Resistance: 109.70, 110.00, 110.50
AUD/USD
AUD/USD is in a freefall mode and there is nothing to stop the bearish pressure yet. Traders might want to stick to the short positions and avoid long positions for now. Short positions are better taken when there is a bullish correction. 0.7000 is the best level to look for short.
Today critical levels to watch:
Support: –
Resistance: 0.6900, 0.7000