USDX (USD Index)
U.S dollar index shows a bullish reaction in today’s trading session after the release of U.S job data. The upward movement has strong momentum and might confirm the continuation of the bullish trend. However, the trading days have not closed yet which means the index could reverse the current upward movement and cancel it.
EUR/USD
EUR/USD is currently under bearish pressure and falling below yesterday’s low. It seems the pair is set to continue the bearish trend and target the level below parity. However, traders might want to prepare for a sudden reversal before the end of trading days. If the pair trade upward and closed near the opening level then we might see a bullish continuation toward 1.0339 in the coming week.
Today’s critical levels to watch:
Support: 1.0000
Resistance: 1.0339, 1.0650, 1.0800, 1.0900
GBP/USD
GBP/USD is mostly lower and currently testing the 1.2000 support level. As long as there is no breakout and close outside of 1.2000 – 1.2200, traders will assume the pair will continue the ranging movement. Despite the situation, a failure to close below 1.2000 before the end of the week might switch the trend from bearish to bullish.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY launched upward with strong bullish momentum in today’s trading session. The bullish trend might continue and traders who have long positions will continue to hold the positions now. If the pair reverse the bullish momentum and start moving lower again then a close below 131.47 will confirm the bearish trend.
Today’s critical levels to watch:
Support: 131.47
Resistance: 135.00, 135.19
AUD/USD
AUD/USD rejection from the 0.7000 resistance level gained more bearish momentum today. The pair currently trading near the previous week’s low and will attempt a breakout below it. If the pair maintain the bearish pressure then we might see a continuation to target a new lower low. On the other hand, a close above 0.7000 is a bullish confirmation for movement toward 0.7160 and the daily SMA 200.
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700
Resistance: 0.7000, 0.7160, 0.7300