USDX (USD Index)
U.S dollar index halted its drop and looks slightly higher today. The index has printed a lower swing low, which might become a confirmation of further weakness. At the current time, the index has Fibonacci Retracement area to watch as target. Below the level, there is daily SMA 200 too. A close below the averages will become a long-term bearish continuation confirmation.
EUR/USD
EUR/USD reached the 1.0500 resistance level and stuck near it now. The pair might consolidate near the level and look for a bullish breakout. If the pair could break out and close above 1.0500 then the bullish trend could continue toward 1.06500 and daily SMA 200. At the current time, traders will monitor the reactions from the 1.0500 level. If the pair turn lower, then 1.0339 is the support level to watch.
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 closed near the 1.2625 resistance level, where the bullish pressure has not subsided yet. The pair will test the 1.2625 level and the daily SMA 200. If the pair could break out and close above both levels and print a new higher swing high, then the long-term bullish trend will be confirmed. On the other hand, if bearish rejection happen, then the pair will attempt to form a higher swing low to maintain the current bullish movement.
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY pushed lower and getting near the 151.00 level. No lower swing low printed on the chart yet, which mean the situation still favor a bullish bounce. However, if a bearish breakout and close below 151.00 happen, then the trend will turn bearish for medium-term. On the upside, a close above daily SMA 200 and new higher swing high will turn the trend bullish again.
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 and currently stick near the level. The pair is looking to break out and continue the bullish movement to target 0.6500 and daily SMA 200. If the pair experience bearish rejection from the current level then as long as it stays above 0.6300 then the bullish movement could continue.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700