USDX (USD Index)
U.S dollar index bounced from the 92.00 support level and closed the day as a bullish candlestick. It seems the index will continue its bullish movement and target the 93.00 resistance next. Traders will continue to avoid shorting the U.S dollar unless the index reverses the bullish pressure and make bearish close below 92.00.
EUR/USD
EUR/USD closed the day on the bearish side near the 1.1820 support level. No breakout and close below the level yet and the pair continue to maintain the positions above it. As long as there is no close below the level, there is a chance for a bullish reversal. However, a close below the level will trigger further weakness to test 1.1710.
Today critical levels to watch:
Support: 1.1820, 1.1710
Resistance: 1.2000, 1.2070
GBP/USD
GBP/USD made a bearish close below the 1.3835 level yesterday. The pair is at threat of bearish continuation. However, there is no bearish follow-through today, and the pair stage recovery toward the 1.3835 level and the trendline. If the pair could close the day above both levels then we might see the cancelation of bearish pressure and the pair could resume its bullish movement toward 1.4000.
Today Critical level to watch:
Support: 1.3835, 1.3600
Resistance: 1.4000, 1.4325
USD/JPY
USD/JPY pushed lower and closed below 111.00 also the trendline. It seems the pair might start a bearish movement toward the 110.00 support level. There is a bearish attempt today but the pair has recovered near its opening level. Without further bearish momentum, there is a chance for bullish reversal and continuation toward 112.00 again.
Today critical levels to watch:
Support: 111.00, 110.00, 109.00
Resistance: 112.00
AUD/USD
AUD/USD was rejected from the daily SMA 200 and formed a bearish close yesterday. It could mean a bearish continuation is on the card for the pair. However, the pair have not continue moving lower below the previous day’s low and currently attempting to bounce from 0.7500.
Traders will observe the pair reaction inside 0.7500 – 0.7550 for now and waiting for the weekly closing level. A close above daily SMA 200 will cancel the current bearish outlook.
Today critical levels to watch:
Support: 0.7500, 0.7450
Resistance: 0.7550, 0.7700