USDX (USD Index)
The bearish pressure on the U.S. dollar index is expected to continue toward the 100.00 support level. However, the index might reverse the bearish pressure and trade upward anytime and traders will use the moment for a chance to enter short positions at a higher level. When the index reaches the 100.00 level, traders might want to scale out of short positions and monitor the index reactions.
EUR/USD
EUR/USD made a bullish close above the 1.1000 resistance level yesterday. The bullish close also prints a new higher high which confirms the continuation of the bullish trend. However, the pair come under bearish pressure today which might bring it to close below 1.1000. If the pair continues moving lower then traders could wait near 1.0900 and 1.0800 for the chance to enter long positions
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0650, 1.0339
Resistance: 1.1000
GBP/USD
GBP/USD fell with moderate bearish momentum today and back toward the weekly opening level. The pair might continue moving lower and target the 1.2000 – 1.2200 area also the daily SMA 200. If the pair manages to reach both levels, then traders could use the moment as a chance to enter more long positions with a stop below the previous swing low.
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 sideway near the green box area and there is no change to the situation yet. The pair bounce again from the area today and might continue building more bullish pressure. Traders will continue to monitor the pair reactions near the current level. If the pair continues moving upward then it will target the daily SMA 200. On the lower level, a bearish continuation will bring the pair down to target a new lower low.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD managed to close above the daily SMA 200 yesterday but the pair was immediately under bearish pressure again today. It seems the pair might close the day below the daily SMA 200 and await further confirmation next week. At the current time, the pair also trading inside the 0.6700 – 0.6820 area where it might consolidate. A strong bounce and a new higher high will confirm the pair’s bullish continuation.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000