USDX (USD Index)
U.S dollar index printed a bearish close yesterday and there is bearish follow-through today. However, the index bearish pressure recedes and the index starts moving upward. If the index could close above the previous day’s high then it is possible the bullish correction toward 92.00 will happen.
On the other hand, if bearish pressure continues to mount then the 90.00 targets will be reached.
EUR/USD
EUR/USD bounced from the 1.2070 support level yesterday and printed a bullish close. The pair expected to resume its bullish movement toward 1.2200, 1.2300, and 1.2500. No breakout above the previous day high yet and the pair limited inside the previous day range. It seems traders will continue waiting for the Brexit decision on the weekend before deciding EUR/USD next direction.
today critical levels to watch:
Support: 1.2070, 1.2000
Resistance: 1.2200, 1.2300, 1.2500
GBP/USD
A major bearish breakdown happens in GBP/USD. The pair fall below 1.3250 toward the 1.3125 support level today. The market seems losing confidence in the Pound sterling nearing the Brexit deadline. GBP/USD will continue moving with high volatility especially after the Brexit decision on the weekend.
Today Critical level to watch:
Support: 1.3000
Resistane: 1.3250, 1.3300, 1.3330
USD/JPY
It is not clear yet where USD/JPY will move next. The pair consolidates near 104.00 the entire week and expected to extend its consolidation next week. Same as before, traders will continue waiting sideline, waiting for a trigger to move in the pair before deciding on the next direction.
Today critical levels to watch:
Support: 104.00, 101.50, 101.19
Resistance: 105.00, 106.00, 106.70
AUD/USD
AUD/USD closed above 0.7500 yesterday and the top of the bullish channel. The pair extend its bullish movement and tested the 0.7550 resistance level. It seems the pair limited below the resistance level and might close the day as a bearish pin bar pattern. If a bearish correction happens then AUD/USD is expected to return inside the bullish channel and continue its bullish trend.
Today critical levels to watch:
Support: 0.7500, 0.7450, 0.7330, 0.7300
Resistance: 0.7550, 0.7600