USDX (USD Index)
U.S dollar index resume the bearish movement today as it is under bearish pressure. The index is expected to continue lower to target the Fibonacci Retracement levels. On the lower side, if the index could close below the daily SMA 200 then the situation will turn bearish for medium-long term. On the other hand, if the index could bounce upward with strong bullish momentum and print new higher swing high, then the bullish trend will continue.
EUR/USD
EUR/USD got rejected from the 1.0500 resistance level and currently trading at the middle of 1.0339 – 1.0500. The pair looks stabilizing and will attempt to move upward. If the pair breakout and close above 1.0500 then the bullish movement will continue toward 1.0650 and daily SMA 200.
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 is consolidating near the 1.2625 level without major bearish reactions. The pair will continue trading sideways near the current level and attempting to breakout higher. When the pair breakout and close above daily SMA 200, traders will get initial confirmation of long-term bullish trend. However, if the pair experience bearish rejection and print a new lower swing low, then the bearish trend will continue.
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY fall with moderate bearish momentum today. It manages to print new lower low and on the way to print new lower swing low. When the pair breakout below the Fibonacci Retracement levels, then traders will get confirmation on long-term bearish trend. We could say, a close below 149.20 might be a trend changing situation from bullish to bearish.
Today’s critical levels to watch:
Support: 150.00
Resistance: 151.00, 151.80, 155.00, 158.00
AUD/USD
AUD/USD keep pressuring to the upside and looking to close above 0.6350 today. On the upside, 0.6500 and daily SMA 200 will become the bullish target to watch when the pair could close above 0.6350. We expect the long-term trend will turn bullish after the movement above 0.6350.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700