USDX (USD Index)
U.S dollar index seems to continue under pressure as it fell below 96.10. At the current time, the index is pressuring the 95.50 support level. If a bearish breakout happens then there is a chance of continuation toward the 94.00 – 94.30 area. No bearish breakout yet at the current time. Traders will continue to monitor the index reaction for now. On the upper side, a breakout and close above 96.70 will confirm a bullish continuation.
EUR/USD
EUR/USD made a bullish close yesterday but no major breakout from the 1.1300 – 1.1360 area yet. The pair expected to continue the consolidation inside the area for now. The same as yesterday, traders will continue waiting for a breakout from the range to confirm the next direction.
Today critical levels to watch:
Support: 1.1300, 1.1185, 1.1120, 1.1000
Resistance: 1.1360, 1.1500
GBP/USD
GBP/USD breakout and close above the daily SMA 200 also 1.3600. It is an initial bullish confirmation and traders will observe closely the pair movement. If the pair could maintain the close above both resistance levels until the end of the week then there is a chance of bullish continuation. On the other hand, if the pair reverse the bullish pressure and close below both levels at the end of the week then we might see a bearish continuation.
Today Critical level to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY could not reverse the current bearish pressure and continue trading under pressure. The pair might continue lower to target the 114.50 support level. Traders will continue waiting for the pair to reach the support level to enter long positions. A higher swing high has been printed which means a higher swing low will confirm the continuation of the long-term bullish trend.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD maintains a position above the 0.7160 support level. There is a bullish reaction yesterday but the pair need to continue climbing immediately to confirm further upside. If the pair continues the bullish movement then 0.7300 – 0.7330 is the bullish target. On the other hand, a bearish close below 0.7160 at the end of the week will confirm a bearish continuation.
Today critical levels to watch:
Support: 0.7160, 0.7000
Resistance: 0.7300, 0.7330, 0.7450