USDX (USD Index)
U.S dollar index has not shown any strength near the 100.00 level. The index might resume the bearish movement to target 97.43 level next. However, if the index manages to stage recovery then it will attempt to move upward to target 101.79 and 103.00 – 103.74 area. Traders will wait for bullish correction toward resistance level to enter short positions on bearish reactions.
EUR/USD
EUR/USD continue its climb above the 1.1300 – 1.1360 area. The pair might resume the bullish trend to target the 1.0500 resistance level. As mentioned before, traders will wait for bearish correction in the pair for a chance to enter long positions. On the lower side, 1.1120 – 1.1185 is the area to watch for bullish reactions. It is better to avoid shorting the pair for now, as the overall trend is bullish.
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 maintain the bullish pressure at the 1.3250 resistance level. There is no bearish reactions in the pair, which mean the pair could continue the bullish movement to target a new higher swing high. On the upside, 1.3300 – 1.3330 is the area to watch for bearish reactions. On the lower side, 1.3125 and 1.3000 – 1.3050 is the support levels to watch for bounce reactions.
Today’s critical levels to watch:
Support: 1.3150, 1.3050, 1.3000
Resistance: 1.3250
USD/JPY
USD/JPY is back under bearish pressure near the 142.00 support level. The bounce from the level has no momentum, and the pair might attempt to breakout lower now. If the pair manage to breakout lower, then 140.00 and 138.00 will become the bearish target to watch. On the upside, 145.00, 147.43 are the levels to watch as bullish correction target.
Today’s critical levels to watch:
Support: 142.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD bullish close continues, and the pair looks climbing today. The situation is bullish, and the pair might reach 0.6500 and daily SMA 200 soon. We think the pair could continue the upward movement and target 0.6700, 0.6750. However, a bearish correction might happen after the touch on 0.6500 and daily SMA 200. When the bearish correction happens, 0.6350 will become a support level to watch.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700