USDX (USD Index)
U.S dollar index weakness continues yesterday which put the index lower below 97.50 support level. It is an important level to watch this 1-2 weeks. If the index could not bounce from the level then it might turn the trend into bearish for medium-long-term. On the other hand, if the index could return above SMA 200 then the bullish trend will continue.
EUR/USD
EUR/USD extended its bullish close for the seventh day. The pair jumped above 1.1185 with strong bullish momentum and might continue upward to test 1.1300 – 1.1360. However, the bullish movement might come to a halt for while and the pair might test 1.1120 – 1.1185 before resuming its bullish movement.
today critical levels to watch:
Support: 1.1185, 1.1120
Resistance: 1.1300, 1.1360
GBP/USD
GBP/USD reached the daily SMA 200 target and currently rejected from the averages. We have moderate bearish pressure which has move below the previous day low. If the bear could maintain the bearish pressure then GBP/USD might start moving lower again to target the 1.2000 – 1.2200 area. No change to the overall outlook of the pair which continues trading inside 1.2000 – 1.2625.
Today Critical level to watch:
Support: 1.2500, 1.2200
Resistance: 1.2625
USD/JPY
USD/JPY has confirmed the short-term bullish trend after the close above SMA 200. The pair extended its bullish close but no strong momentum seen yet. Today, the pair move further higher above the previous day high. Without a change to the current outlook, the pair might target the 110.00 resistance level.
Today critical levels to watch:
Support: 108.00, 106.70
Resistance: 109.00, 110.00
AUD/USD
AUD/USD almost printed a bearish pin bar after the test on a level near 0.7000. Fortunately, the pair closed higher yesterday and might make another attempt to test 0.7000. No bullish continuation yet in today’s trading session. As long as the pair maintain the close above the previous day low then there is chance for it to retest 0.7000.
Today critical levels to watch:
Support: 0.6750, 0.6700
Resistance: 0.7000