USDX (USD Index)
The U.S. dollar index is moving higher today and has directly tested the daily SMA 200. If the index manages to close above this dynamic resistance, traders can expect a bullish continuation to retest the 99.00 level. Otherwise, if the bull lose momentum here, there is a strong chance of a bearish continuation from the current level.
EUR/USD
EUR/USD dropped and reached a level near the 1.1710 support today. While there has been no direct touch yet, a full test of this level might happen soon. Moving forward, the pair remains trapped inside the 1.1710 – 1.1820 range. If the bearish momentum continues and breaks below this support, there is a possible downward extension toward the daily SMA 200.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820,1.2000, 1.2070
GBP/USD
GBP/USD currently has more room downward to target the 1.3450 support level. If it continues to push further lower and breaks this barrier, then the daily SMA 200 will become the next logical downside target. Despite this downward pressure, we expect the pair to maintain its ongoing 1.3450 – 1.3600 consolidation range for now.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY is showing some bullish pressure today. Despite this slight upward push, there is overall no change to the ongoing sideways situation. The pair remains heavily trapped within its current consolidation phase near the highs. Therefore, traders will continue to wait for a definitive breakout to confirm a clear directional trend.
Today’s critical levels to watch:
Support: 158.89, 155.50, 155.00, 153.00, 151.00
Resistance: 160.00, 161.18
AUD/USD
AUD/USD is facing some bearish pressure today. However, despite this downward push, the price continues to stick closely near the 0.7160 resistance level. Because of this resilience, the ongoing consolidation will likely continue right at this ceiling. Traders should remain patient and wait for a clear breakout or rejection signal before entering the market.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160