USDX (USD Index)
U.S dollar index show bullish reactions near the daily SMA 200 and currently moving upward. It is moving inside previous day’s range and might stick near the averages for now. As the market situation mostly driven by Greenland issues right now, traders will continue to see high volatility session. Recently, Trump called-off the tariff toward Europe related to Greenland issues. Global stock market rallied and U.S. dollar index also turned positive. In the long-term, we still see the index moving lower, but for now, it might continue to consolidate until market digest the newest update.
EUR/USD
EUR/USD closed near the 1.1710 level and now under bearish pressure. It might attempt to stick near the level and climb higher. If the pair could close above 1.1820 then the bullish trend will continue. On the lower side, a close below 1.1580 and daily SMA 200 will become the confirmation that the trend has turned bearish.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD retesting the 1.3450 level and might consolidate near it for now. The pair has a chance to extend the upward movement to target 1.3600 level next. However, if the pair experience bearish rejection and move lower, then the 1.3300 – 1.3330 area and the daily SMA 200 could become the target to watch. On the upside, a close above 1.3600 will become the major confirmation of bullish continuation.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250
Resistance: 1.3450, 1.3600
USD/JPY
USD/JPY is supported near the previously broken swing high and currently making attempt to continue the upward movement. If there is no change to the current bullish structure, then traders could expect the pair to target a new higher swing high or the 159.63 & 160.00 level. On the lower side, a close below 157.442 or latest swing low will become confirmation that a bearish leg will start.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD move upward and print new higher swing high above 0.6750 level. Not much change to the pair bullish situation and traders who have long positions will continue holding with stop order below 0.6666. On the upside, 0.6789 and 0.6820 are the targets to watch.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700, 0.6750, 0.6820