USDX (USD Index)
U.S. dollar index bearish movement halted today as the index attempting to recover. No bullish reversal sign yet, which mean the index could continue the bearish movement to target the Fibonacci Retracement levels. However, if the index climb with strong bullish pressure and erased the three days bearish movement, then the bullish trend will continue.
EUR/USD
EUR/USD under bearish pressure today, but maintain its position above the 1.0339 level. The pair might consolidate near the current level and waiting for further reactions. If the pair could bounce upward with strong bullish pressure, then there is chance of bullish continuation to target 1.0500 and 1.06500. A bearish breakout below 1.0339 and a new lower swing low will confirm bearish continuation.
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 slightly lower today, but attempting to recover from initial bearish movement. The pair direction is upward with 1.2625 and daily SMA 200 as target. When the pair reach the level and show bearish reactions, traders could consider entering short positions. However, if a bullish breakout and close above daily SMA 200 happen, then the trend might turn bullish.
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY continue the bearish movement and fell below the daily SMA 200. No bullish reactions, and the pair has reached the Fibonacci Retracement levels. If the pair extended the bearish movement and printed a new lower swing low, then the trend will turn bearish. However, if the pair could bounce upward with strong momentum from the current level then we will get bullish continuation confirmation.
Today’s critical levels to watch:
Support: 155.00, 151.80, 150.00
Resistance: 158.00
AUD/USD
AUD/USD extended the bullish movement for three days, but the pair looks sideways today. It has not moved outside of yesterday’s range. However, it could be a pause before further upside in the pair. On the upside, a close above 0.6350 will confirm the continuation of bullish trend to target daily SMA 200.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700