USDX (USD Index)
The upward movement of the U.S dollar index finally experience a bearish correction today. U.S dollar index moves lower with moderate bearish momentum and currently trading at 100.30. If the bearish correction continues then traders will monitor the index reaction near 100.00 and 99.40.
EUR/USD
EUR/USD made a bullish bounce and moving upward today with moderate momentum. The pair needs to climb above 1.1185 to cancel the current bearish trend. At the current time, traders will monitor the pair reaction near resistance levels for a chance to enter short positions. On the upside, 1.1000 might become the major levels where a bearish reversal happens.
Today’s critical levels to watch:
Support: 1.0800
Resistance: 1.0900, 1.1000, 1.1120, 1.1185
GBP/USD
GBP/USD managed to maintain the position above 1.3000 and stage a bounce from it today. The pair will attempt to continue moving upward and confirm a double bottom pattern. On the upside, 1.3330 is the level to watch for bullish reversal as a close above it will confirm a double bottom pattern.
Today Critical level to watch:
Support: 1.3000
Resistance: 1.3125, 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY bullish trend is expected to continue with or without a bearish correction. The pair is currently under bearish pressure and might start a bearish correction. If the bearish continues to start then traders will observe the 125.00 level as a possible bounce location. Traders will use the bearish correction as a chance to add long positions.
Today’s critical levels to watch:
Support: 126.00, 125.00, 120.00
Resistance: 130.00
AUD/USD
AUD/USD reverse the bearish pressure and stage a bullish movement toward the orange box area. No-touch on the 0.7300 – 0.7330 area or the daily SMA 200 which is not mandatory for bullish continuation. If the pair closes inside the orange box area then there is a chance of bullish continuation to retest 0.7640.
Today critical levels to watch:
Support: 0.7330, 0.7300
Resistance: 0.7450, 0.7500, 0.7550, 0.7640, 0.7690