USDX (USD Index)
U.S dollar index maintained a close above the 96.10 level yesterday. However, the index is currently under pressure as it falls below the 96.10 level. No major conclusion yet on the index next direction. It could either bounce and move higher toward 96.70 or restart the bearish pressure toward the 94.00 – 94.30 area.
EUR/USD
EUR/USD movement mostly ranges near the 1.1300 – 1.1360 area. There is no major movement away from the area yet. At the current time, the pair is expected to continue the sideways movement and wait for a breakout. On the long-term view, the pair direction is bearish and failure to close above 1.1360 will weigh more to the bearish side.
Today critical levels to watch:
Support: 1.1300, 1.1185, 1.1120, 1.1000
Resistance: 1.1360, 1.1500
GBP/USD
GBP/USD continues the bullish correction and soon will reach the daily SMA 200 also 1.3600. Traders will observe closely the pair reaction near the 1.3600 and the daily SMA 200. If the pair get rejected from both resistances level then it is set to continue the bearish trend. On the other hand, a close above both resistance levels will signal further bullish movement to target 1.3835.
Today Critical level to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY closed above the 115.90 resistance level yesterday. The pair is currently under bearish pressure but maintained a position near 115.90. If the pair make a bearish correction then traders will wait near 114.50 for a chance to enter long positions. Short positions are not suggested as the trend of the pair is bullish.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD reversed its direction before it could reach the 0.7160 support level. The pair are now set to extend the bullish movement to test the 0.7300 – 0.7330 area. On the upside, the pair need a close above daily SMA 200 and the orange box area to reverse the current bearish trend. We still favor a bearish scenario, but without a close below 0.7160, there is no confirmation to become more bearish yet.
Today critical levels to watch:
Support: 0.7160
Resistance: 0.7300, 0.7330, 0.7450