USDX (USD Index)
U.S dollar index continues to stick near the 103.82 resistance level and will keep testing it. There was bearish pressure yesterday but the index managed to close the day near the opening level. At the current time, there is a bullish attempt but no strong momentum. If the index could close above 103.82 then the bullish movement could continue toward the daily SMA 200. On the other hand, if the index starts moving lower then the 100.00 support level will become the level to watch as a target.
EUR/USD
EUR/USD got rejected from the 1.0800 resistance level which means the pair will continue the ranging movement between the 1.0650 – 1.0800 area. Traders will continue to monitor the pair movement inside the range. When the pair make a breakout and closes outside of the range, traders will get confirmation on the next direction. Meanwhile, if the bearish movement continues then daily SMA 200 and 1.0339 could become the bearish target to watch.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD mostly sideways inside the 1.2000 – 1.2200 area and there is a bearish attempt today. As long as the pair stays inside the 1.2000 – 1.2200 area, traders could continue to apply range trading strategies. We favor bullish positions to bearish positions and suggest traders continue accumulating long positions with stops below the previous swing low.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY resumed the bullish movement above the green box area. If the pair could continue its bullish movement then it will target the daily SMA 200. However, if the pair reverse the upward movement and close below the green box area then traders will prepare for a bearish continuation to target a new lower low.
Today’s critical levels to watch:
Support: 130.00, 125.00
Resistance: 133.00, 137.70
AUD/USD
AUD/USD could not break out and close above the 0.7000 resistance level. The pair is currently under bearish pressure and moved below yesterday’s low. If the bearish pressure continues to increase then the pair could continue down to target 0.6820 or the daily SMA 200. Traders could wait near the support level for bullish reactions to enter long positions targeting 0.7160 and higher.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000