USDX (USD Index)
U.S dollar index moving upward today after Trump announce new round of tariff against Japan and South Korea. It seems the index strength might continue until Wednesday as other countries tariff deadline fall on that day. If the index start moving upward, then it will target the green box area. On the other hand, if tariff deadline being pushed back again, then we might see bearish continuation in the index.
EUR/USD
EUR/USD is under bearish pressure and fall toward 1.1710. The pair looks will close the day near the level and attempt to bounce from it. If the pair could bounce upward, then it will retest the 1.1820 resistance level. However, if the pair breakout lower, then it might target the 1.1500 – 1.1580 area for bounce.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD continue under bearish pressure near the 1.3600 level and might break out lower. If the pair continue the bearish movement, then it will target the 1.3450 level. As long as there is no lower swing low printed, the pair could continue the bullish trend. Traders could use the current bearish movement as chance to enter long positions when there are bullish reactions.
Today’s critical levels to watch:
Support: 1.3600, 1.3450, 1.3330, 1.3300
Resistance: 1.3800, 1.4000
USD/JPY
USD/JPY breakout above 145.00 level which mean the bull has upper hand and avoid a bearish continuation below 142.00. The pair might continue upward to retest the green box area. Traders will observe the pair reactions for now. If the pair could break out higher and print a new higher swing high, then the situation might turn bullish for medium-term.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD fall toward 0.6500 with strong bearish momentum. The pair seems will stay under bearish pressure for now as U.S. tariff deadline is near. No change to the bullish outlook yet, if the pair could maintain the positions and avoid breakout below 0.6350 then there is chance of bullish reversal. Traders will continue to make use of the green box area as a place to add long positions. Waiting until tariff news also one of the better idea for this week.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700