USDX (USD Index)
The bearish pressure on the U.S dollar index brought the index down to test 96.10. A close below 96.10 happened and there is a risk of further weakness. At the current time, there is no bullish confirmation yet which means it is better to stay sideline. If the index continues lower, then 95.00 is the level that needs to hold for the bullish trend to continue.
EUR/USD
EUR/USD returns inside the 1.1300 – 1.1360 area after the bounce from 1.1120 – 1.1185 area. The pair will attempt for a close above it. Despite the bullish situation, the long-term trend is bearish which means a bearish reversal might happen and let the pair resume the bearish trend. On the upside, the pair need a higher swing high printed above 1.1500 to confirm a medium-term bullish reversal.
Today critical levels to watch:
Support: 1.1185, 1.1120, 1.1000
Resistance: 1.1300, 1.1360, 1.1500
GBP/USD
GBP/USD managed to reach the daily SMA 200 and 1.3600 resistance level. The pair currently testing the level, looking for a breakout above both. On the lower side, the pair formed a higher swing low and need a higher swing high above 1.3747 to reverse the current bearish trend. Traders might want to continue to observe the situation for now. If the pair form a major bearish reaction from the daily SMA 200 then we might see bearish continuation.
Today Critical level to watch:
Support: 1.3330, 1.3300
Resistance: 1.3450, 1.3600, 1.3835
USD/JPY
USD/JPY pushed lower and managed to reach 114.50. The pair currently show bounce reactions from the level. If the pair could maintain the bullish pressure then we might upward attempt to test 115.90. On the other hand, a bearish breakout below 114.50 will need a lower swing low printed to confirm the bearish reversal.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD bounced from the 0.7000 support level and now trading near the 0.7160 level. The pair might have formed a double bottom pattern and will attempt to print a higher swing high to reverse the current bearish trend. Traders will observe the pair reaction at the 0.7160 resistance level to determine the next direction.
Today critical levels to watch:
Support: 0.7160, 0.7000
Resistance: 0.7300, 0.7330, 0.7450