USDX (USD Index)
U.S dollar index is under bearish pressure and eventually will reach the 100.00 level. No bullish sign as the market price in that the Fed will raise interest-rate but indicate no more rate-hike this year. Despite the bearish situation, traders might want to prepare for a sudden bullish reaction after the Fed interest-rate decision next month. If the index makes an upward movement then traders could wait near the resistance level for a chance to enter short positions in the U.S. dollar.
EUR/USD
EUR/USD limited below the 1.0900 resistance level. At the current time, the pair is trading between 1.0800 – 1.0900 and might continue consolidating inside it. If the pair start a bearish correction then traders could wait near 1.0800, and 1.0650 for a chance to enter long positions on bullish reactions. On the upside, 1.1000 will become the bullish target to watch.
Today’s critical levels to watch:
Support: 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD moved lower with moderate bearish momentum. The pair might continue lower to target the 1.2000 – 1.2200 support area also the daily SMA 200. If the pair could reach the area and the daily SMA 200 then traders will wait for bullish reactions. Traders could enter long positions on bullish reactions. However, if the pair continues lower and print a new lower low then traders will prepare for a bearish continuation.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY bullish recovery has reached the green box area and shows a bearish reaction. The pair might resume the bearish trend inside the channel and traders will continue to hold short positions. As long as there is no breakout and closes above the top of the channel, the pair will continue moving lower. On the upside, the daily SMA 200 will become the bullish target to watch when the breakout happens.
Today’s critical levels to watch:
Support: 125.00
Resistance: 130.00
AUD/USD
AUD/USD managed to close above the 0.7000 resistance level and there is a bullish continuation today. The pair will attempt to continue the upward movement toward the 0.7160 resistance level. No confirmation to enter short positions as the pair continue printing bullish closes. Traders better await a bearish correction to enter long positions near the support level. At the current time, 0.7000 is the level to watch for long positions.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000