USDX (USD Index)
The U.S. dollar index is showing strong bearish momentum today after the Fed’s FOMC meeting. Price continues to trade below the 100.00 resistance area and remains under the declining daily SMA 200, keeping the broader outlook bearish. AS the index finally printing new lower swing low, it seems the bearish trend is started. On the lower side, 97.43 and the latest swing low at 96.19 will become targets to watch.
EUR/USD
EUR/USD maintains bullish momentum today and is attempting to push higher toward the 1.1710 resistance. Price continues to hold above 1.1580, keeping the bullish structure intact. If buyers remain in control, the pair may retest and breakout above 1.1710 soon. A rejection at that level may lead to sideways movement near the 1.1710. Traders will maintain a bullish bias for now, as the U.S dollar index has started a new 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 resume bullish movement today after bounce from 1.3300 – 1.3330 area. The pair is on the path upward to test the 1.3450 level. As the bearish correction stopped near 1.3300 and not manage to reach daily SMA 200, the current bullish move is strong. If there is no major change to the situation, then we expect the pair to breakout above 1.3450 and continue the bullish trend.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3450
USD/JPY
USD/JPY is moving lower today after failing to continue its bullish rebound from the green support zone. The pair is currently pulling back from the recent swing high and showing signs of short-term weakness. Despite today’s decline, the broader bullish structure is still valid as long as price stays above the green box area. Traders will monitor the green zone for potential bullish reaction before considering long positions.
Today’s critical levels to watch:
Support: 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD continues its bullish move today, extending higher without any major bearish sign. The pair is moving steadily toward the 0.6700 resistance and staying above the broken structure, signaling continuation of the bullish trend. If a pullback occurs, then 0.6640 will remain the key levels for bullish reaction. Overall outlook stays bullish and traders may expect the pair to reach 0.6700–0.6750 area soon.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700