USDX (USD Index)
U.S dollar index continue consolidating with no confirmation on the next direction yet. We are in a waiting mode right now, the index might either move upward to retest 100.00 or continue lower to print a new lower swing low. Under current situation, it is better to wait sideline and use each upward movement in the index as a chance to enter short positions in U.S. dollar.
EUR/USD
EUR/USD is consolidating between 1.1580 – 1.1710 and no breakout from the range yet. The pair bounce from the bottom of range and is set to close the day near the opening level. Traders will wait until the consolidation complete with a breakout from the range. Until the event happen, range trading is the choice traders could do.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD maintain the position inside the 1.3450 – 1.3600 area. The pair situation mostly sideways for now, and traders could continue to use the bottom of the range to accumulate long positions. We still expect the pair to breakout higher and continue the bullish trend. On the lower side, the daily SMA 200 and the previous swing low are the support levels to watch.
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 sideways situation continue without change. The pair has been sideways for a few weeks, and it might continue for now. On the upside, the nearest resistance level is the daily SMA 200 and 150.00 level. On the lower side, a new lower swing low will confirm the continuation of bearish trend.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD climb above the 0.6500, but without strong momentum. As the other major pairs trading sideways, we expect the pair to continue trading near 0.6500 for now. If the pair resume the bullish trend, then it will target the top of range. On the lower side, the daily SMA 200 is the major support level to watch.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700