USDX (USD Index)
U.S dollar index breaches the 92.00 resistance level and continues its upward movement. The index extending its upward movement today but losing momentum. At the current time, the index is trading near the opening level. No conclusion yet on where the index will move next. Traders will observe the index reaction after tomorrow’s U.S job data.
A close below 92.00 or SMA 200 could become a signal for bearish continuation.
EUR/USD
EUR/USD made a bearish close yesterday and there is bearish follow-through today. However, the bearish pressure seems to recede and the pair currently trading above its opening level. If the pair could recover near the daily SMA 200 by the end of the week then the situation will turn bullish again.
Today critical levels to watch:
Support: 1.1820, 1.1710
Resistance: 1.2000, 1.2070
GBP/USD
GBP/USD failed to maintain the level above the 1.3835 support level. The pair continues moving lower and testing the red trendline. There is a bullish reaction from the trendline and the pair might close the day near it. Traders will continue to observe the pair reaction near the trendline and 1.3835.
Today Critical level to watch:
Support: 1.3835, 1.3600
Resistance: 1.4000, 1.4325
USD/JPY
USD/JPY bounced from the trendline and blast through the 111.00 resistance level. The pair continues its bullish movement and confirmed the triangle breakout. It seems the pair could continue its upward movement and reach the 112.00 resistance level.
If the pair make a bearish correction then 111.00 will become support level.
Today critical levels to watch:
Support: 110.00, 109.00
Resistance: 111.00
AUD/USD
AUD/USD continues its bearish movement after the pair closed below daily SMA 200 again. However, the pair maintain the 0.7500 – 0.7550 range and might continue trading inside it until tomorrow’s U.S job data. We will wait for further confirmation on the pair movement. A close above daily SMA 200 will cancel the current bearish outlook.
Today critical levels to watch:
Support: 0.7500
Resistance: 0.7550, 0.7700