USDX (USD Index)
There was bearish pressure in the U.S dollar index yesterday. The price fell toward the 96.70 support level and managed to bounce from it. At the end of the day, the index closed on the bullish side and formed a bullish pin bar pattern. No breakout confirmation above the pattern yet today.
Meanwhile, the U.S dollar index expected to continue its ranging movement between 96.70 – 97.50.
EUR/USD
EUR/USD putting bullish pressure toward the 1.1300 resistance level. The bullish pressure could not break above the resistance level and we have a rejection. The rejection formed a bearish pin bar pattern yesterday. If the bear could push the price lower and close below the candlestick pattern then traders will expect continuation toward 1.1185.
No confirmation yet that the pair will start a major bearish correction toward the daily SMA 200. Traders might want to continuously monitor the pair reaction between 1.1120 – 1.1360.
today critical levels to watch:
Support: 1.1185, 1.1120
Resistance: 1.1300, 1.1360, 1.1500
GBP/USD
GBP/USD formed a bearish pin bar pattern yesterday and might indicate the continuation of bearish movement toward the 1.2000 – 1.2200 area. Traders could enter short positions near the candlestick low with a stop above the high.
Today Critical level to watch:
Support: 1.2200, 1.2000
Resistance: 1.2500, 1.2625
USD/JPY
USD/JPY rejected from the 108.00 resistance level and formed a bearish engulfing pattern. However, there is no bearish confirmation below the pattern yet. The pair continue holding out near its opening level and might continue the consolidation.
If there is no bearish breakout then traders will expect another test on the 108.00 resistance.
Today critical levels to watch:
Support: 106.70, 105.00
Resistance: 108.00, 109.00, 110.00
AUD/USD
AUD/USD mostly sideways between 0.6820 – 0.7000. The pair attempting to move higher at the current time. No clue yet on the pair next long-term direction. Traders will continue to monitor the pair reaction inside the 0.6820 – 0.7000 area.
Today critical levels to watch:
Support: 0.6820, 0.6750, 0.6700
Resistance: 0.7000, 0.7160