USDX (USD Index)
U.S dollar index attempt to bounce upward today, but it seems losing the bullish pressure. The index is currently trading back near the opening level and might resume the bearish movement after that. We maintain bearish outlook on the index and suggest traders to continue to use bullish correction in the index as chance to add short positions in U.S. dollar. On the lower side, 93.97 is the bearish target to watch.
EUR/USD
EUR/USD has reached the 1.1820 resistance level target and there is bearish reaction today. However, the pair seems making recovery and currently trading near the opening level. If the pair maintain the bullish pressure, then we might see another attempt on the 1.1820 resistance level and breakout above it. On the other hand, if a bearish correction happens, then 1.1500 – 1.1580 might become the area to watch as target.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD started a bearish correction before it could reach the 1.3835 resistance level. The pair immediately reach 1.3600 level and show slight bounce reaction. If the pair make a deeper bearish correction, then 1.3450 is the level to watch as support level. On the upside, we still expect the pair could continue upward and reach 1.3835 also 1.4000 resistance level.
Today’s critical levels to watch:
Support: 1.3600, 1.3450, 1.3330, 1.3300
Resistance: 1.3800, 1.4000
USD/JPY
USD/JPY made a bullish attempt today and initially surpass yesterday’s high. However, the pair lost the bullish pressure and move lower below the high. We maintain bearish outlook on the pair and expect downward movement to target 140.00 also 138.00. However, at the current time, the pair is trading between 142.00 – 145.00 and might continue the consolidation for a while.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD pushed lower today with moderate bearish momentum. But, the bearish situation has been reversed, and the pair is currently trading near the opening level. If the pair extending the bullish movement, then traders could expect it continue the upward movement to target 0.6700 – 0.6750 area.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700