USDX (USD Index)
U.S dollar index keep moving near the 97.43 level and might continue sideways for now. The index could attempt to move upward and retest the green box area or previous swing high to cancel the bearish trend. We still favor a bearish continuation in the index and will continue to use each bullish correction in the index as a chance to enter short positions in U.S. dollar.
EUR/USD
EUR/USD back under bearish pressure today below the 1.1710 level. If the pair resume the bearish movement toward 1.1500 – 1.1580 then traders will wait for bullish reaction to enter long positions. No change to outlook, the trend still bullish and each pullback is chance to add long positions. On the upside, 1.20000 is the next target to watch.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD experience bearish pressure today and might attempt to move downward to test 1.3450 level. The pair latest swing low located at 1.33692, as long as there is no close below the level then the bullish trend stay intact. At the current time, traders could use the 1.3450 level as a place to add long positions with stop below 1.33692. In the medium-long term, 1.4000 is the target to watch.
Today’s critical levels to watch:
Support: 1.3600, 1.3450, 1.3330, 1.3300
Resistance: 1.3800, 1.4000
USD/JPY
USD/JPY move upward with moderate bullish pressure today and reached the green box area. The pair will continue testing the box area now and traders will wait for reactions. Overall, the next higher swing high or lower swing low might confirm the pair next direction. There is potential that the bull will push the pair upward to test 150.00 or the daily SMA 200. It might cause invalidation of bearish trend, but it might also turn into a fake out before bearish continuation.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD made strong bullish close yesterday, which might confirm a bullish continuation. The pair is currently trading lower, but it might be a temporary pause before further upside. If the pair immediately continue the bullish movement today, we will see strong upward movement next week. On the other hand, if another pause happens then there is chance of sideways movement before further upside.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700