USDX (USD Index)
Rising inflation numbers put pressure on the global market. However, the initial increase of U.S. dollar index after news release has been erased. The index currently trading near the opening level and might close the day near it. If the index start weakens, then it will target the Fibonacci Retracement levels. On the other hand, if the index resumes the bullish movement, then it will target new higher swing high.
EUR/USD
EUR/USD bounced from the 1.0339 level and now looks trading higher. The pair might attempt to extend the bullish movement and target the 1.0500 level. If the pair could close above the 1.0500 level, then there is chance of bullish continuation to target 1.0650 and daily SMA 200. In the long-term, a close above 1.0650 is vital for trend reversal.
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 hanging at the middle of 1.2200 – 1.2625 area. The pair slightly higher today and will attempt to extend the upward movement to test the 1.2626 and daily SMA 200. On the upside, a close above daily SMA 200 or 1.2800 might become a bullish reversal confirmation.
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY launched upward after the test on 151.00 and daily SMA 200. It seems the pair will continue moving upward to target the previous swing high. At the current time, we have a new higher swing low which mean the bullish trend has not broken yet. As long as the pair continue printing new higher swing high and higher swing low, there will be no change to the bullish trend yet.
Today’s critical levels to watch:
Support: 151.80, 150.00
Resistance: 155.00, 158.00
AUD/USD
AUD/USD pushed lower today but managed to recover most of its losses. The pair currently trading near the opening level and might close the day near it. On the upside, the pair need to close above 0.6350 to confirm a long-term bullish reversal. On the lower side, if the pair resume the bearish movement, then it will attempt to print a new lower swing low and target 0.6000.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700