USDX (USD Index)
U.S dollar index stall after rally and just before the previous swing high. It seems the bear are holding the index and not going to give way to print a new higher swing high. If the index turn lower from the current level, then the bearish trend might continue. Otherwise, there is chance for the index to continue upward and test the 100.00 level and green box area.
EUR/USD
EUR/USD continue to maintain the position above the 1.1580 level and show bounce reaction today. However, the pair mostly trading in range for now and it might continue consolidation. There is a chance the pair continue lower to test 1.1500 level. If the pair resume the upward movement from the current level, then 1.2000 will become the next target to watch.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD made a bullish attempt but limited below the 1.3450 level. If the pair continue the bearish movement, then it might target the 1.3250 support level, where traders could consider entering long positions. When the pair print two consecutive lower swing high and lower swing low, then it is the time to switch outlook to bearish.
Today’s critical levels to watch:
Support: 1.3330, 1.3300
Resistance: 1.3450, 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY keep building bullish pressure below the 150.00 level and the daily SMA 200. The pair will attempt to test the resistance levels and breakout above it. On the upper side, a close above the green box area will become the confirmation that the trend has turned bullish. If the pair formed a bearish rejection near the current level, the pair could continue the bearish trend.
Today’s critical levels to watch:
Support: 145.00, 142.00, 140.00, 138.00
Resistance: 149.20, 150.00
AUD/USD
AUD/USD continue to maintain the position above the 0.6500 level but no strong bounce from the support level yet. The pair might continue consolidating with bearish tendency for now. If the pair reach the daily SMA 200 or bottom of green box, traders could consider adding long positions. On the upside, 0.6700 – 0.6750 is the target area to watch for bullish movement.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700