USDX (USD Index)

U.S dollar index started a bearish correction and now will target the Fibonacci Retracement levels also the daily SMA 200. It seems the trend has changed now. If the index continues lower and closed below the daily SMA 200 then the trend will turn bearish for long-term. Under current situation, traders will wait for the bounce from support level to enter long positions in U.S. dollar.

EUR/USD

EUR/USD has reached the 1.0500 level now with moderate bullish momentum. The pair will attempt to break out and continue the bullish movement toward 1.0650 and daily SMA 200. Traders will observe the pair reactions near the current level. Weakening in U.S. dollar index should provide more upside room for the pair.

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 extended the bullish movement and now getting near the 1.2625 resistance level and daily SMA 200. The pair will test both resistance level and traders will wait for reactions. If the pair breakout higher and close above both levels then the trend might turn bullish for medium-term.

Today’s critical levels to watch:

Support: 1.2200

Resistance: 1.2625, 1.2800, 1.3000

USD/JPY

USD/JPY continue under bearish pressure and fall below the daily SMA 200. The pair will attempt to retest the 151.00 level and print a new lower swing low. When the pair could print new lower swing low, then the trend will turn bearish and USD/JPY might fall below 148.664 to give final confirmation of bearish trend.

Today’s critical levels to watch:

Support: 151.80, 150.00

Resistance: 155.00, 158.00

AUD/USD

AUD/USD has reached the 0.6350 level now where it will test the level. A breakout and close above the level might turn the trend bullish for medium-term. Meanwhile, bearish rejection with strong momentum could become the confirmation of new bearish leg.

Today’s critical levels to watch:

Support: 0.6250, 0.6000

Resistance: 0.6350, 0.6500, 0.6700