USDX (USD Index)
U.S dollar index launched upward after the latest tariff announced by President Trump. The index will attempt to extend the bullish movement and target a new higher swing high. It seems the bullish trend has not broken yet as the latest bearish movement could not print new lower swing low.
However, if the index turn under bearish pressure and fall below the daily SMA 200 then the trend will turn bearish.
EUR/USD
EUR/USD got rejected from the 1.0500 level and now will move toward the 1.0339 level. The pair has not printed a new higher swing high, which mean no bullish confirmation yet. On the lower side, the pair will attempt to gather liquidity to resume the bullish attempt. On the upside, if the pair breakout above 1.0500 then the bullish movement will target 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 turned lower from the daily SMA 200 and 1.2625. The pair is set to start a new bearish leg to target a new lower swing low. No higher swing high printed yet on the latest bullish attempt. 1.2500 could become the support level to watch for immediate bullish reversal. However, it is better to wait until the bearish pressure subside before deciding to enter any long positions.
Today’s critical levels to watch:
Support: 1.2625, 1.2200
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY forming bottom near the 149.20 – 150.00 area. The pair might attempt to move higher from the current level. If the pair moving upward, then it is mostly influence by the rise of U.S. dollar. The pair might also trade sideways as traders anticipating rising interest-rate from Japanese Yen side.
Today’s critical levels to watch:
Support: 149.20
Resistance: 150.00, 151.00, 151.80
AUD/USD
AUD/USD extending the bearish movement and now has fallen below the latest support level 0.6250. If the bearish pressure gaining more momentum, then the pair will attempt to print new lower swing low to cancel the current bullish outlook. Will the pair form higher swing low to continue the bullish movement?
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700