USDX (USD Index)
The upward movement of the U.S. dollar index halted near the daily SMA 200. It seems the index has trouble continuing the bullish movement. If the index gets rejected and forms major bearish reactions then traders will expect a bearish continuation. On the other hand, if the index manages to climb and close above the average then there is a chance of a bullish continuation.
EUR/USD
EUR/USD does not continue the bearish movement toward the daily SMA 200 and 1.0339 support level. The pair looks trading upward today but without strong momentum. If the pair resume the bullish movement then it will target the 1.0650 resistance level. On the other hand, if the pair continues moving lower and close below the daily SMA 200 then we might see a new bearish leg to target the parity level.
Today’s critical levels to watch:
Support: 1.0339, 1.0000, 0.9500
Resistance: 1.0650
GBP/USD
GBP/USD closed near the 1.2100 level and the daily SMA 200. The pair does not continue the bearish movement and show a bullish reaction today. Despite the situation, no confirmation yet that the pair will continue the upward movement. Traders will monitor closely the pair reactions at the current level. If the pair could bounce with strong bullish momentum then it will continue upward to target 1.2625 and 1.2800.
Today’s critical levels to watch:
Support: 1.2100, 1.2000, 1.1450, 1.0500, 1.0000
Resistance: 1.2200
USD/JPY
USD/JPY upward pressure lost steam as it halted the upward movement at the 137.70 level. The pair need to climb and close above the 139.30 resistance level to confirm a bullish continuation. Otherwise, the pair might resume the bearish movement and target the level below the daily SMA 200.
Today’s critical levels to watch:
Support: 139.30, 135.19, 135.00
Resistance: 140.00, 145.00, 150.00
AUD/USD
AUD/USD is under bearish pressure but no major bearish close below the 0.6700 level. The pair managed to maintain their position inside the 0.6700 – 0.6820 area. At the current time, the pair might attempt to move upward and continue the consolidation. Traders will wait for a breakout and close outside of the range to confirm the next direction.
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000