USDX (USD Index)
The bearish movement of the U.S. dollar index continues below the 102.00 support level. The index continues printing new lower lows on the chart without bullish reactions. Traders will continue to ride the current bearish movement in the index and use 102.00 as the resistance level now. When the index moved upward and reacted bearishly near 102.00, traders could add short positions in the U.S. dollar.
EUR/USD
EUR/USD closed above 1.1120 yesterday and there is a bullish continuation in today’s trading session. The pair will keep continuing the bullish movement toward the 1.1185 resistance level next. We expect the bullish trend in the pair to continue and it is better to wait for a bearish correction. When the pair start a bearish correction, traders could enter long positions at a lower level.
Today’s critical levels to watch:
Support: 1.1120, 1.1000, 1.0900, 1.0800
Resistance: 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD extended the bullish movement and printed a new higher swing high. The pair is in a bullish trend and will keep continuing upward. When there is a bearish correction in the pair, traders could add long positions. On the lower side, 1.3000 will become the support level to watch. A breakout and close above 1.3125 will confirm a new high since 2023.
Today’s critical levels to watch:
Support: 1.2800, 1.2625
Resistance: 1.3000, 1.3050
USD/JPY
USD/JPY made a bullish attempt today but got a bearish rejection near the 147.00 resistance level. The pair looks bearish and will attempt to break out below 145.00. If the pair could close below 145.00 then the bearish trend could continue to target a new lower swing low. On the lower side, 141.00, and 139.30 will become the next bearish targets to watch.
Today’s critical levels to watch:
Support: 145.00, 142.00, 141.00
Resistance: 147.00, 150.00, 155.00
AUD/USD
AUD/USD is inside the 0.6700 – 0.6750 area now and the pair keep continuing upward. As the trend has turned bullish, traders who have long positions from 0.6500 and daily SMA 200 will keep holding the positions. On the upside, a new higher swing high or close above 0.6820 could signal a major bullish continuation.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000