USDX (USD Index)
The bearish movement of U.S dollar index has reached the 100.00 level and currently trading below it. If the index continues the bearish movement, then it will target the 127.2% target at 97.43. No bullish sign yet which mean there is chance of bearish continuation. However, traders will consider a pullback above 100.00, up to 101.79 as a chance to add more short positions in U.S. dollar index. A close above 103.74 will cancel the bearish outlook.
EUR/USD
EUR/USD has reached the 1.1300 – 1.1360 area today, the pair also overshoot to the 1.1500 level. It seems a bearish correction might happen under current situation. On the lower side, 1.1200 – 1.1185 and the 1.1000 level will act as support levels to watch. Traders will stick with bullish outlook for now as U.S. dollar index breakout below the 100.00 level.
Today’s critical levels to watch:
Support: 1.1185, 1.1120, 1.1000, 1.0900, 1.0800
Resistance: 1.1300, 1.1360
GBP/USD
GBP/USD bounced from the daily SMA 200 gaining more bullish momentum. It erased the two day’s bearish movement and is set to continue the upward movement to target 1.3250 also 1.3300 – 1.3330 area. As the bullish train has started, it is better to wait for bearish pullback toward support level for a chance to add long positions.
Today’s critical levels to watch:
Support: 1.2625
Resistance: 1.2800, 1.3000, 1.3250
USD/JPY
USD/JPY fall below 145.00 and immediately continue the bearish movement toward 142.00 level. We could say the level near 142.00 has been touched today and there is slight bullish reaction. If the pair start moving upward then it might retest the 145.00 level before further downside. Traders will continue stick with bearish outlook on the pair and avoid long positions unless for aggressive counter-trend trade.
Today’s critical levels to watch:
Support: 142.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD continue its gain after the bounce from 0.6000 level. The pair is on the path upward to retest the triangle pattern. If the pair could extend the bullish movement, then it will target 0.6500 and daily SMA 200. At the current time, traders will monitor the pair reaction near the 0.6350 resistance level.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700