USDX (USD Index)
U.S dollar index bullish attempt reversed, and the index is moving below the opening level. No new higher high but the index mostly stays inside previous day’s range. It might extend the upward movement to test the daily SMA 200. Traders will wait for either test on the daily SMA 200 or new lower swing low to confirm chance to enter short positions in U.S. dollar.
EUR/USD
EUR/USD showing indecision as the pair trading inside the previous day’s range. The pair might range between 1.1710 – 1.1820 for now. Traders will wait for strong reactions near both level to get confirmation to enter positions. Overall, we expect the pair to continue the bullish trend in the long-term so it is better to keep adding long positions until new lower swing low formed.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820,1.2000, 1.2070
GBP/USD
GBP/USD tested the 1.3450 support level and showed bounce reactions. The pair might continue stick near the 1.3450 level for now and traders will wait for stronger bullish reactions. When there is strong bullish reactions, traders could add long positions targeting 1.3600 and higher. On the lower side, a close below 1.3340 or previous swing low might become confirmation of trend shift.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3600, 1.3835, 1.40000
USD/JPY
USD/JPY moving higher today but experienced rejection. The pair is trading below the opening level now and might close the day as a bearish pin bar pattern. On the upside, a new higher swing high will confirm a bullish continuation. Meanwhile, if the pair manage to close below 152.288, then it might be confirmation of bearish continuation.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD might be under bearish pressure today, but it managed to turn upward before it reached 0.7000. The pair is above the opening level and might extend the bullish movement. On the upside, the 0.7160 level is the nearest target while 0.73000 will become the next target to watch.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160