USDX (USD Index)
Yesterday, the index rejected from the 96.70 resistance level and today it manages to reach 96.10. No confirmation yet that the support level has broken and the index will continue lower to target 95.00. Traders will continue waiting for a reaction from the 96.10 support level at the current time.
If the index could bounce from 96.10 and close above 96.70 then traders will prepare for another bullish rally. On the other hand, a close below 96.10 might be the trigger for further bearish movement.
EUR/USD
EUR/USD made a breakout above the 1.1360 resistance level. The pair extended its bullish movement today and set to target 1.1450 – 1.1500. Traders will avoid taking short positions for now until the pair reach the resistance levels and formed a major bearish pattern.
Holding long positions is the best choice to take for now if traders have the positions.
today critical levels to watch:
Support: 1.1360, 1.1300
Resistance: 1.1500
GBP/USD
GBP/USD fell below the bearish engulfing pattern on the daily chart. However, the bearish pressure reversed and the pair closed the day near the opening level. Today, we have a breakout above the previous day high. If GBP/USD could maintain the bullish pressure and close above daily SMA 200 also the top of the triangle then the pair set to target 1.2800.
Today Critical level to watch:
Support: 1.2500, 1.2200, 1.2000
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY mostly ranging between 106.70 – 108.00. Recent bullish bounce from the 106.70 has no strong bullish follow-through. The pair looks losing altitude and might test the 106.70 support level again. As long as there is no breakout from the range, traders will assume USD/JPY to continue trade inside the range.
Today critical levels to watch:
Support: 106.70, 105.00
Resistance: 108.00, 109.00, 110.00
AUD/USD
AUD/USD move above 0.7000 today, it seems the pair will continue the upward movement toward 0.7160. However, the bullish pressure seems to have a hard time above 0.7000, and currently, the pair continue trading near the 0.7000. Without breakout and close above the level, AUD/USD could reverse and start moving lower again.
Today critical levels to watch:
Support: 0.6820, 0.6750, 0.6700
Resistance: 0.7000, 0.7160