USDX (USD Index)
U.S dollar index resumes its bearish movement and almost reached 92.00 support level. The index bearish pressure might continue as lower low and lower close printed on the chart. As long as there is no bullish reaction, traders will continue to avoid taking long positions in the U.S dollar.
EUR/USD
No bearish reaction yet in EUR/USD, the pair has made five consecutive bullish closes. It is expected to continue moving upward and target 1.2000 also 1.2070. Traders might want to avoid taking short positions and waiting for a pullback before entering long positions. 1.1820 will become the level to watch if the pair could move lower toward it.
today critical levels to watch:
Support: 1.1820, 1.1710, 1.1600, 1.1580
Resistance: 1.2000, 1.2070
GBP/USD
GBP/USD jumped and closed near 1.3250. The pair closed with strong bullish momentum and might extend the upward movement above 1.3250. At the current time, the pair is testing the 1.3250 resistance level. We think the pair might continue upward and target 1.3300, 1.3450 and 1.3500.
No breakout from the 1.3000 – 1.3250 area yet, traders will continue to monitor the pair reaction inside the range.
Today Critical level to watch:
Support: 1.3000, 1.2800
Resistance: 1.3250, 1.3300
USD/JPY
USD/JPY bearish pressure managed to bring the pair down to reach the level near 105.00. The pair show bounce reaction from the level near 105.00. At the current time, the pair has moved above the opening level and might close the day as a bullish pin bar pattern.
We might see a bullish correction from the current level but expect further bearish movement below the previous month low.
Today critical levels to watch:
Support: 105.00, 101.19
Resistance: 106.00, 106.70, 108.00
AUD/USD
AUD/USD distanced itself further from the 0.7160 level. The pair expected to continue the bullish movement and target 0.7330. No change to the outlook yet and traders suggested to avoid taking short positions for now.
Today critical levels to watch:
Support: 0.7160, 0.7000, 0.6820
Resistance: 0.7330