USDX (USD Index)
U.S dollar index made a bearish close but immediately reversed today. The index looks will continue the bullish movement to target the 100.00 level and the green box area. Traders will wait for bearish reactions near both levels for a chance to enter short positions in U.S. dollar. There is chance that the index reverse before it could touch the resistance level and continue the bearish trend. However, if the index close above 101.79 then the trend might turn bullish for long-term.
EUR/USD
EUR/USD maintain its position near 1.1580 for now. If it could continue to maintain the position and produce strong bullish reaction, then the bullish trend could continue. On the other hand, there is a chance the pair continue the bearish movement toward the 1.1500 support level. Nevertheless, traders will wait for bullish reactions near the 1.1500 – 1.1580 area for chance to enter long positions.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD fell below the 1.3450 support level and might continue the bearish movement toward 1.3250 level. We still maintain bullish outlook on the pair and expect bullish reactions. When there are bullish reactions, traders could enter long positions targeting a new higher swing high in the pair.
Today’s critical levels to watch:
Support: 1.3330, 1.3300
Resistance: 1.3450, 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY is getting near both daily SMA 200 and 150.00 resistance level. It might be a matter of time the pair will reach the levels and test it. If there is strong bearish reactions, then it is a chance for traders to enter short positions. On the upside, a close above the green box area will become a major confirmation that the long-term trend has turned bullish.
Today’s critical levels to watch:
Support: 145.00, 142.00, 140.00, 138.00
Resistance: 149.20, 150.00
AUD/USD
AUD/USD pushed below 0.6500 with strong bearish momentum. However, the pair slowly gain and might close near the 0.6500 level. If the pair maintain the position near 0.6500 then it might be a fake bearish breakout which could turn into a bounce. However, if the pair continue moving lower, then the daily SMA 200 and the bottom of green box area could become target, and a place to enter long positions.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700