USDX (USD Index)
U.S dollar index produced wick on both up and downside which show indecision. The overall direction of the index is lower, with 96.31 as the nearest support level. On the lower side, we see the index will print a new lower swing low below 95.52. On the upside, if the index manages to climb above 97.96 then the situation will turn bullish with the daily SMA 200 as target.
EUR/USD
EUR/USD pushed lower and tested the level near 1.1820 today. The pair immediately made recovery and trade not far the opening level. It might be a confirmation that the bull has take the control back, and we might see bullish attempt in the upcoming days. On the upside, the 1.2000 – 1.2070 is the area to watch as bullish target.
Today’s critical levels to watch:
Support: 1.1820, 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.2000, 1.2070
GBP/USD
GBP/USD upward attempt erased, and the pair is currently trading near the opening level. It might turn lower and test the 1.3600 level again. Overall, the direction is bullish, and we expect the pair to retest the 1.3835. On the upside, the 1.4000 level will become the target to watch in the new bullish leg. On the lower side, as long as there is no new lower swing low, the pair could continue the 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 continue the bearish movement with strong momentum and soon will test the previous swing low. We expect the pair to print new lower swing low and test both 150.00 & daily SMA 200. When the pair form a new lower swing low, then the bearish structure confirmed and the pair could continue the bearish trend.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD extend the bullish movement and almost reach the 0.7160 target. The pair is on the move and there is no sign of weakness yet. Traders will monitor the pair reactions near the 0.7160. Buying when there is pullback in the price is the best strategy to apply for now. 0.7000 is the nearest support level to watch if the pair make a bearish pullback.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160