USDX (USD Index)
U.S dollar index reached the multiple swing lows level and looks moving with strong bearish momentum. No bullish reactions which mean there is chance of continuation below it. Traders will keep continuing holding bearish view for now and wait for bullish correction to add more short positions in U.S. dollar. On the lower side, the 93.97 level is the target. On the upside, broken swing low 97.72 will become the resistance level to watch.
EUR/USD
EUR/USD printed new higher swing high and now not far from the 1.20000 resistance level. The bull has been set loose and there is no stopping it now. Traders who has long positions since the daily SMA 200 touch will continue holding now. On the lower side, if there is bearish correction, then the 1.1820 level is the support level to watch.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD mostly bullish and going to target the 1.3835 resistance level. The same as other U.S. dollar pair, the only direction is to the U.S. dollar weakness for now. A bearish correction is a chance for traders to add long positions. If GBP/USD turn lower, then the 1.3600 and 1.3724 broken swing high could become the support levels to watch.
Today’s critical levels to watch:
Support: 1.3600, 1.3450, 1.3330, 1.3300, 1.3250
Resistance: 1.3835, 1.40000
USD/JPY
USD/JPY has broken below the green box area which mean the bullish trend has been invalidated and now traders will switch to bearish view. When there is bullish correction toward the broken box area, traders could start looking for short positions. On the lower side, the 150.00 level and daily SMA 200 will become the bearish target to watch.
Today’s critical levels to watch:
Support: 155.50, 155.00, 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD continue the bullish movement and soon will reach the 0.70000 level. There is no bearish sign yet as the pair up for seventh days. A bearish correction might happen but until a swing high formed, no definitive level to watch yet. Above the 0.7000, there is 0.7160 level to watch.
Today’s critical levels to watch:
Support: 0.6600, 0.6560, 0.6500
Resistance: 0.6700, 0.6750, 0.6820