USDX (USD Index)

U.S. dollar index turned higher again after the bearish movement last week. If the index continues the bearish movement after the test on 108.00 level, then traders could expect the index to target Fibonacci Retracement levels between 105.00–106.24. Also, if the bearish movement has strong momentum, we might see a test on the daily SMA 200.

EUR/USD

EUR/USD got rejected from the 1.0500 level and turned lower. However, the bearish pressure seems receding and the pair making attempt to move upward. At the current time, trader could wait near 1.0339 level for bullish reactions when the pair managed to reach it. Trader could enter long positions targeting the 1.06500 and daily SMA 200.

Today’s critical levels to watch:

Support: 1.0339, 1.0200, 1.0100, 1.0000

Resistance: 1.0650, 1.0800

GBP/USD

GBP/USD bearish pressure receding and the pair looks attempting to stabilize before continuing the upward movement. If there is no change to the bullish scenario then 1.2625 and daily SMA 200 will become the bullish target to watch. However, if the pair fail to print new higher swing high then traders will prepare for bearish continuation.

Today’s critical levels to watch:

Support: 1.2200

Resistance: 1.2625, 1.2800, 1.3000

USD/JPY

USD/JPY attempting to extend the bearish movement toward the daily SMA 200. It seems only a matter of time the pair will reach the bearish target. Traders could wait near the daily SMA 200 for bullish reactions. When the pair form a major bullish reaction, traders could enter long positions targeting a new higher swing high.

Today’s critical levels to watch:

Support: 155.00, 151.80, 150.00

Resistance: 158.00

AUD/USD

AUD/USD turned lower after a new higher swing high. The pair bearish pressure receded today, and it might attempt to resume the bullish movement. If the pair could continue upward, then it will print a new higher swing low. A close above 0.6350 will become a major bullish continuation confirmation.

Today’s critical levels to watch:

Support: 0.6250, 0.6000

Resistance: 0.6350, 0.6500, 0.6700