USDX (USD Index)
U.S dollar index stopped near the previously broken swing low, but might attempt to continue the bullish correction move. On the upside, the daily SMA 200 is the level to watch as an upward target. We maintain bearish outlook on the index and will use each bluish movement as a chance to add short positions in U.S. dollar. On the lower side, the 93.97 level is the target to watch.
EUR/USD
EUR/USD has reached the 1.2000 – 1.2070 level and produced bearish reactions. It is currently undergoing bearish correction and reach the 1.1820 broken resistance level. If the pair could stabilize and bounce from the level, then traders could expect bullish continuation. Meanwhile, there is a chance the pair making deeper bearish correction toward the 1.1710 level. On the lower side, a movement below 1.1580 will become invalidation of the current bullish outlook.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820, 1.2000
GBP/USD
GBP/USD completed the 1.3835 target level and start moving lower. It pulls back and almost reach the 1.3600 level. Traders will observe the pair reactions near the level. When there are bullish reactions, traders could add long positions targeting the 1.4000 level. On the lower side, a movement below 1.3300 – 1.3330 area will invalidate the current bullish trend.
Today’s critical levels to watch:
Support: 1.3600, 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3835, 1.40000
USD/JPY
USD/JPY bounced from the level around 152.00 and start moving upward again. We have a lower swing low printed which mean a new lower swing high will become confirmation of bearish continuation. No sign of weakness for now, if the pair could climb and print new higher swing high, then the situation will turn bullish again for long-term.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD trading near the 0.7000 level right now and might continue moving sideways. If the pair make a bearish correction, then the 0.6820 will become the bearish target to watch. On the upside, 0.7160 will become the next target to watch after 0.7000. We favor a bearish correction, but also considering no deep pullback as the pair continue upward to next target.
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7000, 0.7160