USDX (USD Index)
The bearish pressure on the U.S. dollar index continue as the index stay below the 100.00 level. It might resume the bearish movement to target the 97.43 level next. However, if the index start moving upward, then 101.79 could become the resistance level to watch for bearish reversal. A bullish reversal might happen soon, but it might be temporary relief bounce only.
EUR/USD
EUR/USD building more bullish pressure, but mostly limited at the 1.1300 – 1.1360 area. The pair might continue consolidating near the current level and traders will wait for further reactions. If the pair turn lower, then 1.1000, 1.1120 – 1.1185 area will become the levels to watch for bounce reactions.
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 continue the bullish movement and not showing weakness yet. The pair is testing the previous swing high and might extend the bullish movement to reach 1.3250, 1.3300 – 1.3330 area. On the lower side, if the pair make a bearish correction then 1.3000, 1.3050 will act as support levels to watch.
Today’s critical levels to watch:
Support: 1.2625
Resistance: 1.2800, 1.3000, 1.3250
USD/JPY
USD/JPY has reached the level near 142.00 and there is slight pause. It might bounce upward to test the 145.00 level before resuming the bearish movement. Under the current situation, traders will wait for more confirmation. When the pair show bounces reactions from 142.00, traders could speculate with long positions. We still expect the pair to continue the bearish trend, with 145.00 and 147.00 as resistance levels.
Today’s critical levels to watch:
Support: 142.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD bullish movement has reached the triangle pattern, where it broke lower before. It will continue the upward movement to test the 0.6350 level. If the pair could break out higher, then it will target the 0.6500 and daily SMA 200. A bearish rejection could happen near the current level and traders will use 0.6250 as a place to look for long positions.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700