USDX (USD Index)
U.S dollar index initially turned lower and might be set to continue the bearish movement to target the 100.00 level. However, the index bounced upward after a new announcement regarding tariff by President Trump. At the current time, the global stock market are advancing upward and gold prices also up, while U.S. dollar index also up. It seems the sell-off happened in U.S. treasuries.
We still think, U.S. dollar index will resume its bearish trend to target the 100.00.
EUR/USD
EUR/USD advanced higher today, but it reversed the upward movement and currently trading below the opening level. The pair might attempt to extend the bearish movement to target the 1.0800 and daily SMA 200. Despite the situation, traders will assume that the pair will continue its bullish trend to target 1.1120 – 1.1185.
Today’s critical levels to watch:
Support: 1.1000, 1.0900, 1.0800
Resistance: 1.1120, 1.1185, 1.1300
GBP/USD
GBP/USD stick near the daily SMA 200 and 1.2800 level the entire day. The pair mostly stable even though there is strong movement in U.S. dollar index. If the pair continue moving lower, then the 1.2625 level will become the support level to watch. We think the pair will bounce upward from the current level or 1.2625 level to resume the long-term bullish trend.
Today’s critical levels to watch:
Support: 1.2625
Resistance: 1.2800, 1.3000, 1.3250
USD/JPY
USD/JPY pushed lower in initial trading session, however, the pair bounced from the 145.00 support level. It is currently trading above the opening level and might attempt to continue higher to retest the 150.00 level. As mentioned before, if the pair continue upward then 149.20 – 150.00 area
Today’s critical levels to watch:
Support: 145.00, 142.00
Resistance: 149.20, 150.00, 151.00, 151.80
AUD/USD
AUD/USD bounced from the 0.6000 support level with strong bullish momentum today. The pair has a chance to extend the bullish movement tomorrow to target the broken triangle pattern. Under current situation, if the pair turn lower and fall below the bullish candlestick low, then the situation will turn extremely bearish.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700