USDX (USD Index)
U.S dollar index pushed lower but immediately stage recovery. It is currently trading back above the opening level and might close the day as bullish pin bar. The index has chance to continue the upward movement to target the daily SMA 200. Under current situation, traders better wait for more confirmation. If the index reaches the resistance level and form strong bearish reactions, then traders could enter short positions.
EUR/USD
EUR/USD bullish attempt experience rejection from the 1.1820 level. It might resume the downward movement to target the 1.1710 & the daily SMA 200. It might also climb and reverse the current bearish situation to continue the uptrend. Traders better wait for more confirmation, if the pair manage to reach 1.1710 & daily SMA 200 then it is chance to add long positions at a lower level.
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 bounced from the 1.3450 level but no major bullish reversal sign yet. The pair might continue to trade near the 1.3450 level and traders will continue to wait for more reactions. If the pair extend the downward movement and reach the daily SMA 200 then it is chance to add long positions when there are bullish reactions. A breakout and close below 1.3300 will become the invalidation of bullish scenario.
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 mostly ranging now inside the triangle pattern. The pair pushed lower but recovered nearly all the drop today. Traders will wait for the pair to breakout and close outside the triangle range to confirm the next direction. Also, the next higher swing high or lower swing low will become stronger confirmation of the long-term trend.
Today’s critical levels to watch:
Support: 153.00, 151.00
Resistance: 155.00, 155.50, 158.89, 160.00
AUD/USD
AUD/USD has no strong movement confirmation yet. It manages to stay above the 0.7000 level but no strong movement toward 0.7160. The pair might consolidate near the current level and either move toward 0.7000 or 0.7160. As the long-term trend is bullish, traders better stick with long positions.
Today’s critical levels to watch:
Support: 0.7000, 0.6820, 0.6750, 0.6700, 0.6600
Resistance: 0.7160