USDX (USD Index)
The bullish movement of U.S dollar index continue toward the 100.00 handle. It will test the level and attempt to breakout higher. On the upside, 101.79 is the key level to watch. If the index could break out and close above 101.79 with strong bullish momentum, then the trend will turn bullish. Today the Fed FOMC meeting show divided sentiment on interest-rate, it seems no rate-cut for now.
EUR/USD
EUR/USD fell below 1.1500 – 1.1580 area and is set to continue the bearish movement toward 1.1300 – 1.1360 area. The pair is in a bearish correction phase now, which mean traders will wait for the bearish correction to reach support level for a chance to enter long positions. We expect 1.1300 – 1.1360 will act as major support area where the pair start to reverse.
Today’s critical levels to watch:
Support: 1.1360, 1.1300
Resistance: 1.1500, 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD has reached the 1.3250 with strong bearish momentum. If there is bearish continuation, then the pair might continue lower to test the daily SMA 200. At the current time, traders will wait until the bearish pressure receded, and the pair stabilize before entering long positions. Below 1.3125 is a critical zone where stop order might be triggered.
Today’s critical levels to watch:
Support: 1.3330, 1.3300
Resistance: 1.3450, 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY gain toward the 150.00 and daily SMA 200. It will test the resistance level now and look to continue the upward movement. As mentioned before, if the pair climb and close above the green box area, then the trend might turn bullish. Under current situation, it is better to wait for more confirmation near the resistance level.
Today’s critical levels to watch:
Support: 149.20, 145.00, 142.00, 140.00, 138.00
Resistance: 150.00
AUD/USD
AUD/USD extend the bearish movement and has reached the bottom trend line. There is chance of bearish continuation to target the daily SMA 200 as the bearish movement has strong momentum. Traders will wait until the pair bearish pressure receded to enter long positions. Otherwise, if the bearish movement gain more momentum, then a close below green box area might become a signal of bearish continuation.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance:0.6700