USDX (USD Index)
U.S dollar index mostly sideways as the index consolidating without new higher swing high or lower swing low. The situation might continue for now and traders better wait for further confirmation. When the index form new lower swing low or higher swing high, it might confirm the next direction.
EUR/USD
EUR/USD got rejected from the 1.1710 resistance level, which mean the consolidation between 1.1580 – 1.1710 area will continue. No change to the situation, traders will wait for breakout from the range to confirm the next direction. At the current time, traders could trade the consolidation or stay sideline until breakout happen.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD stick inside the 1.3450 – 1.3600 area which mean the situation is sideways. No change to the bullish situation of the pair. However, the consolidation between 1.3450 – 1.3600 will continue for now. If bearish breakout happen, then the pair will move lower to target the daily SMA 200.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY has not move much as the price movement is sideways for few weeks. Under current situation, it is better to wait for the price to breakout from the consolidation range to confirm the next direction. We could say, the green box area is the range to break for now. A new higher swing high or lower swing low will become the initial confirmation.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD return to the 0.6500 level and currently moving near it. No reactions yet, and the price seems to continue trading inside the broadening pattern. As we are currently at the middle of range, it is better to stay sideline for traders who have no positions. When the pair reach the top or lower part of the pattern, traders could consider entering positions.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700