USDX (USD Index)

U.S dollar index rejection from the 100.00 handle has no bearish follow-through yet. The index moving near the candlestick low and looks sideways. If the index could not immediately continue the bearish movement, then we might see bullish attempt to cancel the candlestick pattern. On the upside, a close above 100.00 is a critical event which might turn the trend bullish.

EUR/USD

EUR/USD stuck near the 1.1580 level, and there is no bullish follow-through yet. The pair might continue to stick near the level and attempt to breakout higher. At the current time, the pair might consolidate between 1.1500 – 1.1580 area. On the lower side, a close below 1.1300 might be a major confirmation that the trend has turned bearish.

Today’s critical levels to watch:

Support: 1.1500, 1.1360, 1.1300

Resistance: 1.1580, 1.1710, 1.1820

GBP/USD

GBP/USD maintain the position above the 1.3250 level and will attempt to continue the upward movement. Traders could continue to use the 1.3125 and daily SMA 200 as support level to add long positions. However, if the pair turn lower again and print a new lower swing low, then the situation might turn bearish.

Today’s critical levels to watch:

Support: 1.3250, 1.3125, 1.3050, 1.3000

Resistance: 1.3300, 1.3330, 1.3450, 1.3600, 1.3800, 1.4000

USD/JPY

USD/JPY looks attempting to form support and avoid printing new lower low. We maintain bearish view on the pair and as long as the pair stay below the green box area, the trend will continue bearish. Under current situation, we will place stop order above the green box area in case the trend turn bullish again. On the lower side, the pair need to print new lower low to confirm the bearish continuation.

Today’s critical levels to watch:

Support: 145.00, 142.00,

Resistance: 149.20, 150.00, 151.00

AUD/USD

AUD/USD is limited below 0.6500 after the bullish bounce. The pair might attempt to breakout above the 0.6500 level and continue to target the top of broadening pattern. However, if the pair turn lower again, then the daily SMA 200 and 0.6350 might become the bearish target to watch.

Today’s critical levels to watch:

Support: 0.6350, 0.6250, 0.6000

Resistance: 0.6500, 0.6700