USDX (USD Index)
U.S dollar index pushed lower and reached the Fibonacci Retracement level yesterday. The index show bounce reactions today, but it might be a temporary reaction only before further downside. If there is no change to the bearish situation, then the index is expected to reach the daily SMA 200.
EUR/USD
EUR/USD closed the day at the 1.0500 level and there is slight bearish reaction today. Despite the bearish pressure, the pair is expected to continue pressing to the upside and breakout toward 1.06500. On the upside, a close above daily SMA 200 and 1.0650 is a major bullish continuation confirmation.
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 higher yesterday, above the 1.2625 level and near the daily SMA 200. The pair will continue to attempt to extend the bullish movement and climb above the averages. As mentioned before, a close above daily SMA 200 is a major bullish continuation confirmation. After the close, a new higher swing high will confirm the long-term trend switch.
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY closed lower below 151.00 and printed a new lower low. The pair is set to continue the bearish trend to target lower level. Fundamentally, Japan experience higher inflation which reach 4% annually which mean BOJ might continue raising interest-rate. If the situation combined by weak U.S. dollar index, then we already know where the pair will move next for medium-long term.
Today’s critical levels to watch:
Support: 150.00
Resistance: 151.00, 151.80, 155.00, 158.00
AUD/USD
AUD/USD managed to climb and close above 0.6350 which mean the bullish movement is set to continue toward 0.6500 and daily SMA 200 next. Under current situation, traders who have long positions will continue to hold the positions now. 0.6350 will become major support level when the pair come under bearish pressure.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700