USDX (USD Index)
U.S dollar index has not moved far from the 96.10 level and is expected to continue the consolidation for now. The overall long-term trend is bullish which means traders will expect further upside. However, if the index continues moving lower then a bearish correction toward 94.00 – 94.30 area is reasonable.
EUR/USD
EUR/USD continues trading inside the 1.1300 – 1.1360 area and there is no breakout yet. The pair is expected to continue its ranging movement for now and traders will continue waiting for a breakout. If the pair moves upward then 1.1500 will become the upward target. On the other hand, if the pair continues lower then 1.1000 is the bearish target.
Today critical levels to watch:
Support: 1.1300, 1.1185, 1.1120, 1.1000
Resistance: 1.1360, 1.1500
GBP/USD
GBP/USD has reached the daily SMA 200 and 1.3600 but no major reaction yet from the resistance levels. Instead of moving lower, the pair continue building bullish pressure and print higher high today. If the pair could breakout and maintain the bullish momentum above the daily SMA 200 and 1.3600 then the bullish trend is expected to continue.
Today Critical level to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY got rejected from the 115.90 resistance level and now start moving lower. As mentioned in the latest analysis, if the bearish correction happens then it could target the 114.50 support level. Traders could consider entering long positions near the support level when there is a bullish reaction.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD stick near the 0.7160 support level and waiting for further reaction. The pair might continue trading sideway near the level for now and traders will wait for a reaction. On the upside, if a bullish bounce happens then the pair could continue upward to test the 0.7300 – 0.7330 area. On the lower side, 0.7000 will become the bearish target when a major bearish breakout happens.
Today critical levels to watch:
Support: 0.7160, 0.7000
Resistance: 0.7300, 0.7330, 0.7450