USDX (USD Index)

U.S dollar index make a bullish movement today, surpassing two previous days’ candlestick highs. The index might continue the bullish movement to target the 102.00 level for retest. Overall, the index situation is still bearish and traders will expect bearish reactions near the resistance level. When there are bearish reactions, traders could enter short positions in the U.S. dollar targeting a new lower swing low.

EUR/USD

EUR/USD was rejected with strong bearish momentum today near the 1.1185 resistance level. The pair’s bearish movement might continue toward the 1.1000 support level as mentioned in the previous analysis. Under the current situation, traders will wait for bullish reactions near support levels for a chance to enter long positions. In the long term, we think the pair could continue the bullish movement toward the 1.1300 – 1.1360 area.

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 shows bearish reactions today near the 1.3250 resistance level. It seems the profit-taking reactions have happened and could bring the pair down to retest 1.3000 – 1.3050 area. As the long-term trend is bullish, traders will wait near the support levels for a chance to enter long positions when there are bullish reactions. We think the long-term trend of the pair is bullish and the bearish movement is a chance for traders to add more long positions.

Today’s critical levels to watch:

Support: 1.3125, 1.3050, 1.3000

Resistance: 1.3250

USD/JPY

USD/JPY stuck near the 145.00 level while waiting for further confirmation. The pair could extend the bearish movement and target the 141.00, and 139.30 levels. However, the pair also could make another bullish correction to test 150.00 and the daily SMA 200. Nevertheless, traders could wait near resistance levels for a chance to enter short positions when bearish reactions happen.

Today’s critical levels to watch:

Support: 142.00, 141.00

Resistance: 145.00, 147.00, 150.00, 155.00

AUD/USD

AUD/USD attempted to extend the bullish movement toward 0.6820 but the pair was rejected before it could reach the level. The pair might start a bearish correction to test 0.6750 or 0.6700. Traders will wait for bullish reactions near both support levels. When there are bullish reactions, traders could enter long positions targeting a new higher swing high.

Today’s critical levels to watch:

Support: 0.6750, 0.6700, 0.6500

Resistance: 0.6820, 0.7000