USDX (USD Index)
The U.S. dollar index remains under pressure on the daily chart, but today shows slight bullish pressure. Price is moving inside previous day’s range. If the index started a bullish correction, then the 98.97 breakout level & the daily SMA 200 could become the upward target to watch. On the lower side, the 97.43 stay as bearish target to watch. Traders will continue to maintain bearish positions in the U.S dollar for now as long as the index continue printing new lower swing low and lower swing high.
EUR/USD
EUR/USD bearish pressure continue today, but the pair maintain the position above the 1.1710 support level. The consolidation will continue near the level for now and traders who has long positions since 1.1500 bounce, will continue to hold the positions with stop order below 1.1580. A deeper pullback might happen toward previously broken swing high around 1.1680 and traders will continue to use pullback as chance to add long positions.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD retested the 1.3450 resistance level and show another rejection. The pair moving with high volatility but looks will close the day near the opening level. It currently ranges between 1.3300 – 1.3450 and traders will wait for breakout. When the pair close above 1.3450, traders will get confirmation of bullish continuation to target 1.3600. On the lower side, the daily SMA 200 and 1.3250 will continue to act as major support levels to watch.
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 make attempt to extend the bullish movement after green box area bounce. However, there is no strong bullish momentum and the pair looks will close flat. If the pair could not immediately print new higher swing high, then traders will expect it to continue pressuring lower and formed a descending triangle pattern. Breakout below the box area will open the path for bearish correction toward 151.64 level.
Today’s critical levels to watch:
Support: 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD extended the bearish movement but immediately show bounce reaction after the touch of the top of green box area. The pair managed to climb and test the previous day’s high before turning back near the opening level. A consolidation might happen near the current level and traders will wait until the pair stabilize before adding more long positions.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700, 0.6750, 0.6820