USDX (USD Index)
U.S dollar index comfortably moves upward and soon will reach the daily SMA 200 as expected. The index will test the resistance level and look for a breakout and close above it. If a bullish close above the daily SMA 200 happens then the trend will continue bullish. Meanwhile, a major bearish reversal from the daily SMA 200 will confirm a bearish continuation to the target 100.00 support level.
EUR/USD
EUR/USD is mostly lower below the 1.0650 support level. Despite the situation, there is no lower low printed on the chart which means there is a chance of a bullish reversal if the pair could close above the daily SMA 200. If the pair continue the bearish movement then it will target the 1.0339 and daily SMA 200. It is better to wait near the support level for bullish reactions and chances to enter long positions.
Today’s critical levels to watch:
Support: 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD closed below the 1.2000 support level last week. Fortunately, there is no lower swing low printed on the chart yet. If the pair could reverse the bearish pressure and close above the daily SMA 200 then the situation could turn bullish again.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY slowly moving upward without much trouble toward the daily SMA 200. As mentioned before, traders will wait near the daily SMA 200 for a chance to enter short positions when there are bearish reactions. However, if the pair could print a bullish close above the daily SMA 200 then the trend could turn bullish again for the medium-long term.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD broke and close below the daily SMA 200. Fortunately, the pair is supported by the 0.6700 – 0.6750 area, and no lower swing low is printed yet on the chart. If the pair could return above the daily SMA 200 then we might see a bullish reversal and continuation to retest the 0.7000 and 0.7160 resistance levels.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000