USDX (USD Index)
There was no bullish continuation in the index yesterday. At the end of the day, the index closed near its opening level. At the current time, we have a bearish reaction in the index, and a pullback toward 90.00 might happen. In the medium-term, we expect the index to continue its bullish correction toward 92.00 – 93.00. However, the index might extend its long-term bearish trend below 90.00 too.
EUR/USD
EUR/USD bounced from the 1.2070 support level and has surpassed the previous day high. The pair might start moving higher and test the 1.2200 resistance level. If the bullish pressure loses momentum the pair might continue lower to target 1.2000 support level. No conclusion yet at the current time, traders will monitor the pair movement inside the 1.2000 – 1.2200 area.
today critical levels to watch:
Support: 1.2070, 1.2000
Resistance: 1.2200, 1.2300, 1.2500
GBP/USD
GBP/USD stick near the 1.3600 level after the previous bearish push. The pair currently attempting to climb above the level. If the pair closed below 1.3600 then traders will expect more consolidation between 1.34500 – 1.3600. On the other hand, if a close above 1.3600 happens then the pair might attempt to move upward to test 1.3835 and 1.4000.
Today Critical level to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600, 1.3835, 1.4000
USD/JPY
USD/JPY has not left the bearish channel area. The pair currently move upward to test the top of the channel. Same as the previous analysis, USD/JPY will continue trading inside the channel as long as there is no breakout and close outside it. At the current time, USD/JPY is expected to continue trading inside the channel.
Today critical levels to watch:
Support: 101.50, 101.19
Resistance: 104.00, 105.00, 106.00, 106.70
AUD/USD
AUD/USD extended its bearish close inside the bullish channel. At the current time, the pair start moving upward and might continue its bullish movement inside the channel. If the pair continues its bearish movement then traders could observe the 0.7500 – 0.7550 support area for possible long positions.
Today critical levels to watch:
Support: 0.7700, 0.7640
Resistance: 0.7750, 0.7800