USDX (USD Index)
U.S dollar index rejected from the 93.00 resistance level and settled at the daily SMA 200 yesterday. The index trend continues to be bullish for now as it maintains the level above the averages. At the current time, traders might want to monitor the index movement between 92.00 – 93.00. A close below 92.00 could make the index resume its bearish trend.
EUR/USD
EUR/USD continues moving upward after the bounce from 1.1710. The pair managed to close near the 1.1820 and currently looking to breakout above it. If the pair could close above 1.1820 and the daily SMA 200 then EUR/USD will return to the bullish trend. On the other hand, if the pair start moving lower again and close below 1.1710 then traders will prepare for a long-term bearish continuation.
Today critical levels to watch:
Support: 1.1710
Resistance: 1.1820, 1.2000, 1.2070
GBP/USD
GBP/USD climbed and closed above 1.3835. The pair has returned inside the 1.3835 – 1.4000 range and might start a consolidation. At the current time, the pair is moving lower and testing the 1.3835 level. As long as the pair could maintain the close above 1.3835 then the pair could continue its bullish trend.
Today Critical level to watch:
Support: 1.3835, 1.3600
Resistance: 1.4000, 1.4325
USD/JPY
USD/JPY is in a bearish correction, currently the pair trading near the 110.00 level. We have 110.00 and the 109.00 level as a support level to watch. Long positions could be taken near the levels. On the lower side, there are the 108.00 and 106.70 support levels too.
Today critical levels to watch:
Support: 110.00, 108.00, 106.70
Resistance: 111.00
AUD/USD
AUD/USD stick near the 0.7640 resistance level after the bounce from the 0.7550 support level. Traders who enter long positions near 0.7500 – 0.7550 could continue to hold the positions for now with a stop below 0.7500. We think the pair could start moving upward and return to the 0.7800 resistance level.
Today critical levels to watch:,
Support: 0.7550, 0.7500
Resistance: 0.7640, 0.7700, 0.7750, 0.7800, 0.8000