USDX (USD Index)
U.S dollar index sticks near the 96.10 level and is slightly lower today as Russia – Ukraine tension easing. The index might continue moving lower and test the 95.50, 95.00 support levels. Traders will stick with long positions in the U.S dollar for now unless the index makes a lower swing low on the daily chart.
EUR/USD
EUR/USD is mostly sideways inside the 1.1300 – 1.1360 for now. The pair are building bullish pressure currently above the area and will attempt to bounce from it. If the pair continues upward then it needs to print a higher swing high to confirm a bullish reversal. Meanwhile, strong bearish momentum from the current level might trigger a bearish continuation toward the 1.1000 support level.
Today critical levels to watch:
Support: 1.1300, 1.1185
Resistance: 1.1360, 1.1500
GBP/USD
GBP/USD continues moving sideway near the daily SMA 200. The pair is expected to consolidate near it and the triangle formation for now. Traders will wait for a breakout and close outside of the triangle area to confirm the next medium-long term direction. Meanwhile, it is best to stay sidelined until breakout happens.
Today Critical level to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600, 1.3835
USD/JPY
USD/JPY building bullish pressure near the 115.90 resistance level but not major reaction yet. The pair is stuck near the resistance level for now. If the pair continues upward and prints a higher swing high then it will confirm a long-term bullish continuation. On the other hand, if a bearish correction happens then traders will wait near the trendline for a chance to enter long positions.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD stick near the 0.7160 level for now and waiting for further reaction. On the upside, the pair needs to break the trendline and daily SMA 200 to confirm a long-term bullish reversal. Meanwhile, on the lower side, a close below 0.7000 is a major bearish continuation confirmation.
Today critical levels to watch:
Support: 0.7160, 0.7000
Resistance: 0.7300, 0.7330, 0.7450