USDX (USD Index)
U.S dollar index moving upward and print new higher swing high. It seems the index will continue the bullish movement at least until this week FOMC meeting. On the upside, there is potential for the index to test 100.00 level. A close above 100.00 will turn the trend bullish for medium term. A close above 101.79 might indicate the end of the current bearish trend and lead the index sideways.
EUR/USD
EUR/USD under bearish pressure and currently trading near the 1.1500 – 1.1580 area. The pair might extend the bearish movement following the strength in the U.S. dollar index. This week, traders might want to wait until the announcement of interest-rate by the Fed to get a clue on the pair direction. If the bearish correction continues, then the pair might target 1.1300 – 1.1360 area.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD continue under bearish pressure and might target the 1.3250 support level. Traders will wait at the sideline for now until the pair reach support level and show bounce reaction. On the lower side, the 1.3250 and daily SMA 200 will become the main focus for bounce reaction. If the pair could bounce upward, then it needs to immediately climb above 1.3600 to confirm bullish continuation.
Today’s critical levels to watch:
Support: 1.3330, 1.3300
Resistance: 1.3450, 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY on the path upward again and soon will test the daily SMA 200 & 150 level. On the upside, a close above the green box area will become the strong confirmation of bullish continuation. Meanwhile, strong rejection from 150.00 or daily SMA 200 could become the signal for bearish continuation.
Today’s critical levels to watch:
Support: 145.00, 142.00, 140.00, 138.00
Resistance: 149.20, 150.00
AUD/USD
AUD/USD moving lower and might continue the bearish movement to target the bottom trend line. The pair is in a broadening pattern now, with potential to reach daily SMA 200. Traders will maintain bullish outlook for long-term. If the pair manage to reach daily SMA 200 and form bullish reactions, then traders could add long positions.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance:0.6700