USDX (USD Index)
U.S dollar index continues under bearish pressure this week before the U.S job data. Today job data is expected to trigger volatility in the market. If the index continues moving lower and prints a lower swing low then we might see a switch of a trend for the medium-term. A close below 94.00 – 94.30 or daily SMA 200 might become the major bearish long-term confirmation.
EUR/USD
EUR/USD punch upward above the 1.1300 – 1.1360 area. The pair closed not far from the 1.1500 resistance level. No higher swing high printed yet. However, under the current bullish momentum, there is a high chance the pair could continue upward to target daily SMA 200. If the pair followed with a higher swing low next then the long-term trend might change to bullish.
Today critical levels to watch:
Support: 1.1185, 1.1120, 1.1000
Resistance: 1.1300, 1.1360, 1.1500
GBP/USD
GBP/USD stick near the daily SMA 200 and the 1.3600 level. The pair might continue moving upward and target a higher swing high to overturn the current bearish trend. On the higher outlook, the pair has formed a higher swing low. A higher swing high printed on the chart is major bullish confirmation.
Today Critical level to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600, 1.3835
USD/JPY
USD/JPY bounces from the 114.50 level and is expected to target the 115.90 resistance level again. Despite the situation, it seems the USD/JPY range start to tighten. Traders are waiting for today’s job data to get a clue on the global market direction. If the pair continues moving lower again then it might target the 112.00 support level.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD made a bullish correction and managed to reach the 0.7160 resistance level. The pair hanging near the level and waiting for further reaction. Will the pair continue the climb and close above 0.7160 with strong bullish momentum? Alternatively, will it get rejected and resume the bearish trend to target the level below 0.7000?
Today critical levels to watch:
Support: 0.7000
Resistance: 0.7160, 0.7300, 0.7330, 0.7450