USDX (USD Index)
The U.S. dollar index successfully climbed above the daily SMA 200 today. Furthermore, the price is getting very close to the 99.00 resistance level. If the index manages a daily close above this mark, it might confirm further upward movement. Because the bull are gaining momentum, the trend is looking more positive. On the downside, the recently broken daily SMA 200 will now act as a reliable support level.
EUR/USD
EUR/USD extended its recent bearish movement by falling below the 1.1710 mark. Consequently, the pair has now reached the critical daily SMA 200. Because this is a major support zone, traders are actively watching for a potential bottoming process. If the pair successfully bounces upward from here, we will likely see another bullish attempt toward 1.1820. However, a breakdown below the moving average would signal deeper losses.
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 finally reached the 1.3450 area during today’s trading session. As a result, the pair will actively test this crucial support level. If buyers defend this floor, the market might bounce back. However, if there is a definitive bearish continuation, the price will drop further. In that bearish scenario, the daily SMA 200 automatically becomes the next major downside target for sellers to watch.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600
USD/JPY
USD/JPY bulls made a strong attempt to climb higher today. In fact, the pair managed to print a new higher high. Despite this upward push, the market has not officially left its ongoing consolidation range just yet. However, it definitely has a solid chance to build more bullish pressure moving forward. Therefore, traders should watch closely for a definitive breakout to confirm the next major 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 continues to trade very closely to the 0.7160 resistance level. There is noticeable bearish pressure today, which resulted in a new lower low. Despite this minor dip, it is certainly not a significant bearish move. Because the overall selling momentum remains relatively weak, the pair might simply continue to consolidate near this pivot level for now. Traders will patiently wait for a stronger breakout signal.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160