USDX (USD Index)
The bearish pressure on U.S. dollar index could not print a new lower swing low and the index turned higher again. It seems the bull will maintain the control in U.S. dollar index and make another bullish attempt to target new higher swing high. As long as the bullish structure maintained, it is better to avoid shorting the U.S. dollar.
EUR/USD
EUR/USD back under bearish pressure as it close near the 1.0339 level. The pair might resume the bearish trend to target a new lower swing low. On the upside, the pair need to close above 1.0500 to reverse the current bearish pressure. Under current situation, traders will maintain bearish outlook and place short positions with stop order above 1.0500.
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 closed lower for two days after the three bullish rally. The pair situation is neutral but still has chance to extend the bullish movement toward 1.2625 and daily SMA 200. If the pair could break out and close above both levels then the trend might turn bullish. On the other hand, if bearish rejection happen then it is a good chance to add short positions.
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY pushed lower last week without a single bullish candlestick close. The pair might attempt to extend the bearish movement to target a new lower swing low. If a bullish bounce happens, then the daily SMA 200 is the resistance level to watch for bearish rejection.
Today’s critical levels to watch:
Support: 151.80, 150.00
Resistance: 155.00, 158.00
AUD/USD
AUD/USD was higher last week, but no new higher swing high printed on the chart. The pair situation will depend on the next movement. On the upside, if a close above 0.6350 happen, then the pair trend could change to bullish. However, if bearish continuation happen and the pair print new lower swing low, then the bearish trend will continue.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700