USDX (USD Index)
U.S dollar index is trading sideways currently but with a bearish bias. The index might continue the bearish movement toward 100.00 anytime. Traders will continue using each bullish correction as a chance to enter short positions in the U.S. dollar near the resistance level. However, if the index could print a higher low and next print a higher high then the trend will turn bullish.
EUR/USD
EUR/USD is currently consolidating between 1.0800 – 1.0900 while waiting for further bullish pressure. On the upside, the pair has 1.1000 as an upward target. If the pair close below 1.0800 then traders will wait near 1.0650 for a chance to enter long positions. A close above 1.1000 will confirm a long-term bullish continuation.
Today’s critical levels to watch:
Support: 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD building more bullish pressure and will attempt to print a new higher high. The pair has 1.2625 and 1.2800 as the next upward targets. If the pair start moving lower again toward the 1.2000 – 1.2200 area then traders could prepare to enter long positions. As long as the pair does not print a new lower low below the daily SMA 200 then the bullish trend could continue.
Today’s critical levels to watch:
Support: 1.2100, 1.2000, 1.1450
Resistance: 1.2200, 1.2625, 1.2800
USD/JPY
USD/JPY is mostly sideways near the green box area and traders will continue to stay sideline for now. If the pair could continue the bullish movement then traders will use the daily SMA 200 as an upward target. On the lower side, a close below the green box area and a new lower low will confirm the next bearish continuation.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD building bullish momentum today as it breaks above the daily SMA 200. If the pair could continue to maintain the bullish pressure and close above the daily SMA 200 at the end of the week then the bullish reversal will be confirmed. On the other hand, if the pair experience bearish rejection and closes below the daily SMA 200 at the end of the week then there is a chance of continuation toward 0.6500.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000