USDX (USD Index)
U.S dollar index come under bearish pressure and moving near the previous swing low. The index will test the level and looks to extend the current bearish movement toward the Fibonacci Retracement levels. Traders will monitor the index reactions near the support level. If the index breakout lower than the trend might turn bearish, especially when it falls below daily SMA 200.
EUR/USD
EUR/USD start moving upward after the close near the 1.0339 level. The pair slowly climbing toward the 1.0500 level and might retest it. Traders will wait for confirmation of either breakout or bearish rejection. If the pair could print new higher swing high then the trend might turn bullish.
Today’s critical levels to watch:
Support: 1.0339, 1.0200, 1.0100, 1.0000
Resistance: 1.0500, 1.0650, 1.0800
GBP/USD
GBP/USD extending the bullish movement and managed to print a new higher high today. The pair will attempt to extend the upward movement to target the 1.2625 and daily SMA 200. If the pair could close above both levels then traders will get initial confirmation of bullish reversal.
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY completed the bearish correction toward the daily SMA 200. The pair has moderate bearish momentum and will test the level now. Will the pair stabilize, bounce from the level and continue the bullish trend? Alternatively, will it continue moving lower to target previous swing low?
Today’s critical levels to watch:
Support: 155.00, 151.80, 150.00
Resistance: 158.00
AUD/USD
AUD/USD recover from previous week loss and moving up for three consecutive days. The pair will attempt to extend the current bullish movement to target the 0.6350 level. Traders could wait for a close above 0.6350 to confirm bullish continuation. On the other hand, if the pair get rejected with strong bearish reactions then the pair will continue the bearish trend.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700