USDX (USD Index)
U.S dollar index gaining more bullish pressure after the bounce from the level near 97.50. The upward movement is expected to continue toward the 99.40 and 100.00 resistance levels. However, if a bullish breakout does not happen then the index will continue the ranging movement between 97.50 – 99.40.
EUR/USD
EUR/USD moving lower after the bearish rejection from the 1.1120 – 1.1185 resistance level. The pair is currently under bearish pressure at the 1.10000 support level. If a bearish breakout happens then the pair is set to target the 1.0800 support level. On the other hand, a bullish bounce from the current level could bring the pair up to retest the 1.1120 – 1.1185 resistance area again.
Today’s critical levels to watch:
Support: 1.1000, 1.0900, 1.0800
Resistance: 1.1120, 1.1185
GBP/USD
GBP/USD stick near the 1.3125 level and show no clue on the next direction. The overall trend is bearish but upward movement above 1.3300 – 1.3330 will cancel the bearish outlook. Without a close above the area, traders will assume the trend will continue to be bearish.
Today Critical level to watch:
Support: 1.3125, 1.3000
Resistance: 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY pointed upward after the bounce from the level near the blue box area. The long-term trend of the pair is bullish which means the long position is favorable compared to the short position. If a bearish breakout below the blue box area happens then the bearish pullback might target the 115.90 support level.
Today’s critical levels to watch:
Support: 120.00
Resistance: 125.00
AUD/USD
AUD/USD is mostly sideway near the 0.7500 resistance level and the orange box area. No change to the ranging situation and traders will continue waiting for a close outside of the orange box area. On the upside, a close above the area will confirm a long-term bullish continuation. On the lower side, 0.7300 – 0.7330 and the daily SMA 200 are the major support levels to watch when a bearish breakout happens.
Today critical levels to watch:
Support: 0.7450, 0.7330, 0.7300, 0.7160
Resistance: 0.7500, 0.7550