USDX (USD Index)
U.S dollar index sloping upward and looks will form a higher low at the current level. The index might consolidate inside the triangle area as shown on the chart and will wait for breakout. The overall trend is bearish, which mean we expect a bearish breakout and continuation to target new lower swing low. However, if bullish breakout happen, then there is upward potential toward 100.00.
EUR/USD
EUR/USD is under bearish pressure but maintain the position above 1.1710 level. The pair might attempt to bounce upward and continue the bullish trend. In the latest bullish attempt, there is no new higher swing low yet. If the pair turn lower sharply and form new lower swing low, then the trend might turn bearish.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD pushed lower below the 1.3450 level again. The bearish movement has moderate momentum as it erased three days gain in just two days. If the pair resume the bearish movement then there is a chance of continuation toward 1.3250 support level. In this case, we might see a transition from bullish to bearish trend in the pair. We could say, the latest upward movement printed a lower swing high.
Today’s critical levels to watch:
Support: 1.3330, 1.3300
Resistance: 1.3450, 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY return inside the green box area and might provide chance for upward movement to test daily SMA 200 also the 150.00 level. A new higher swing high and a close above the green box area will turn the trend bullish. Under current situation, it might be better to stay flat as consolidation might happen. A fake breakout could become the key to determine next movement.
Today’s critical levels to watch:
Support: 145.00, 142.00, 140.00, 138.00
Resistance: 149.20, 150.00
AUD/USD
AUD/USD formed a bearish pin bar yesterday and there is bearish follow through with strong momentum today. It seems the pair will attempt to move lower and retest the 0.6500 level again. We maintain bullish outlook on the pair, with 0.6700 – 0.6750 as upward target. However, if the pair breakout and close below 0.6500 again, then we might have a broadening pattern which suggest us to stay sideline or attempt to buy / sell near the extreme.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance:0.6700