USDX (USD Index)
There is no change to the U.S dollar index situation which hangs near the top. The index might continue the upward movement and print a new higher high. However, if the index starts a bearish correction then it might find support around the 107.00 – 107.50 area. Traders will continue to maintain a bullish outlook and use each bearish correction as a chance to enter long positions.
EUR/USD
EUR/USD looks trading upward with moderate bullish momentum. However, the pair might continue trading sideways near the parity level. Traders will monitor the pair reactions near the parity level for now. Each bullish movement might become a chance for traders to enter short positions.
Today’s critical levels to watch:
Support: 1.0000
Resistance: 1.0339, 1.0650, 1.0800, 1.0900
GBP/USD
GBP/USD extending the bearish movement and printing a new lower low each day. There is no change to the bearish situation yet which suggest traders avoid entering long positions. If the pair trades upward then traders will wait near the previous swing low level for a chance to enter short positions.
Today’s critical levels to watch:
Support: 1.1450
Resistance: 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY continues to maintain the bullish pressure but no higher high printed yet on the chart. Traders will continue to monitor the pair reactions near the top for now. If the pair show major bearish reactions then a bearish correction might happen. Traders could wait near the support level for a chance to enter long positions.
Today’s critical levels to watch:
Support: 135.19, 135.00, 131.47
Resistance: 140.00
AUD/USD
AUD/USD attempting to move higher today but the pair returned to its opening level and might close the day near it. On the lower side, the pair will target 0.6820 and a new lower low to continue the bearish trend. On the upside, a close above 0.7160 or the daily SMA 200 might confirm a bullish continuation.
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700
Resistance: 0.7000, 0.7160, 0.7300