USDX (USD Index)
U.S dollar index continues the bullish correction toward the 102.00 resistance level. The upward movement is expected and there is nothing to be surprised about. At the current time, traders will wait for bearish reactions near the resistance level to get confirmation on the bearish trend continuation. On the lower side, the 100.00 will become the major support level to watch. It might take some time for the index to break below the level. On the upside, the index also could extend the bullish correction toward the daily SMA 200.
EUR/USD
EUR/USD resumes the bearish correction and soon will reach the 1.1000 support level. Traders could wait near the support level for bullish reactions. When there are bullish reactions, traders could enter long positions. The area between daily SMA 200 and 1.1000 is the place to look for long positions. However, if the pair managed to close below the daily SMA 200 and print a new lower swing low then the situation could turn bearish again.
Today’s critical levels to watch:
Support: 1.1000, 1.0900, 1.0800
Resistance: 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD extended the bearish correction and managed to reach 1.3125. The pair might break below the level and continue lower to test the 1.3050 and 1.3000 support levels. Traders will monitor the pair reactions near the area. If there are strong bullish reactions then traders could enter long positions targeting a new higher swing high. On the lower side, the latest swing low is around 1.2660. It means as long as the pair stay above the level then the trend will continue bullish.
Today’s critical levels to watch:
Support: 1.3125, 1.3050, 1.3000
Resistance: 1.3250
USD/JPY
USD/JPY climbed above the 145.00 level with moderate bullish pressure. The bullish movement could continue toward 147.00 and 150.00 next. Traders will use the current bullish correction as a chance to enter short positions near resistance levels. When there are bearish reactions near the resistance level, it is a signal for traders to enter short positions.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00, 155.00
AUD/USD
AUD/USD was rejected from the 0.6820 resistance level and fell with moderate bearish momentum. The pair will attempt to move below 0.6750 and target 0.6700. Traders could wait near both support levels for bullish reactions. When there is 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