USDX (USD Index)
U.S dollar index made a bearish attempt with strong move. However, the index could not print a new lower swing low and it trade back near the opening level. The index might consolidate near the daily SMA 200 and the green box area. On the lower side, a new lower swing low will confirm the continuation of bearish leg. On the upside, a new higher swing high will confirm the continuation of bullish trend.
EUR/USD
EUR/USD extend the bullish movement above the 1.1580 level and almost print a new higher swing high. However, the pair losing the bullish pressure and trade back near the opening level. If the pair could extend the bullish movement, print new higher swing high and close above 1.1710 then the bullish trend could continue. On the lower side, a close below the daily SMA 200 will confirm the bearish trend.
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 near the 1.3250 level and the daily SMA 200. The pair show bearish reactions but maintain the position inside the previous Friday’s range. Traders will wait for more confirmation near both levels. A close above both levels will confirm the continuation of bullish trend.
Today’s critical levels to watch:
Support: 1.3125, 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY dropped to the green box area and show bounce reactions. The pair might have completed the bearish correction and ready to continue the upward movement. We maintain bullish outlook on the pair and see it continue moving upward to target 158.89 and 159.63. Traders could continue to use the green box area as a place to add long positions.
Today’s critical levels to watch:
Support: 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD stall at the 50% level and currently trade near the opening level. It might stay sideline for now and looking to extend the upward movement. On the upside, a close above the green box area might become the confirmation of bullish continuation. On the lower side, a new lower swing low might confirm a new bearish leg on the pair.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700