USDX (USD Index)
U.S dollar index breakout and closed below the daily SMA 200. It seems the trend has switched from bullish to bearish. However, if the index could stage a rally and close above the daily SMA 200 then there is a chance of a bullish reversal. However, if the upward movement failed to close above the daily SMA 200 then we might see a bearish continuation.
EUR/USD
EUR/USD attempting to extend the bullish movement toward the 1.06500 resistance level. The pair lose the bullish pressure and traded lower below the opening level. If the bearish pressure continues to mount then we might see a bearish movement to target the daily SMA 200 and 1.0339. Traders will observe the pair reactions near the support level. If there are bullish reactions then traders could enter long positions.
Today’s critical levels to watch:
Support: 1.0339, 1.0000, 0.9500
Resistance: 1.0650
GBP/USD
GBP/USD trade upward above the 1.2000 – 1.2200 area. However, the bullish movement lost upward pressure. The price looks trading lower today and might retest the 1.2000 – 1.2200 area. Traders will observe the pair reactions near the area. If there is bullish reactions from the area then traders could enter long positions.
Today’s critical levels to watch:
Support: 1.1450, 1.0500, 1.0000
Resistance: 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY extended the bearish movement toward the daily SMA 200. The pair managed to bounce from the averages. If the pair could continue moving upward and close above the triangle pattern on the chart then traders will expect a new bullish continuation. However, if the pair get rejected and continue moving lower to close below the daily SMA 200 then the trend will switch to bearish.
Today’s critical levels to watch:
Support: 139.30, 135.19, 135.00
Resistance: 140.00, 145.00, 150.00
AUD/USD
AUD/USD attempted to continue the upward movement but the pair reverse the direction today. It trades below the opening level with strong bearish momentum. If the pair could close below the 0.6700 level then we might see further weakness this week to target the 0.6500 level. On the upside, there is no touch on the daily SMA 200 and 0.7000 yet.
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000