USDX (USD Index)
U.S dollar index resume the bearish trend and now on the path toward 97.43 and lower. Traders who has entered short position when 100.00 retest, could continue to hold the positions now until the bearish momentum fading. If the index failed to print a new lower swing low, then there is a chance of bullish reversal with double bottom pattern. On the upside, 101.79 will continue to become the key resistance level.
EUR/USD
EUR/USD continue the bullish movement above the 1.1300 – 1.1360 area. The pair is on the path to retest 1.1500 – 1.1580 area. We think the pair could continue the bullish movement and print a new higher swing high. However, if the pair fail to print new higher swing high then there is a chance of bearish reversal targeting 1.1000 support level again.
Today’s critical levels to watch:
Support: 1.1360, 1.1300, 1.1185, 1.1000
Resistance: 1.1500, 1.1580
GBP/USD
GBP/USD bounced from the 1.3450 support level with strong bullish momentum. The pair is expected to retest the 1.3600 resistance level and breakout above it. If the pair could break out higher, then it will target 1.3835 and 1.4000 resistance levels. On the lower side, a breakout below 1.3450 will open the path lower to target the 1.3250 support level again.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY turned lower and soon will test the 142.00 support level. If the pair breakout lower, then it will target 140.00 then 138.00 support level. Traders who has short positions when the pair trading near 145.00 will continue to hold the positions for now with stop above 146.30. Right now, the pair need to print a new lower swing low to confirm a bearish continuation.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD mostly higher from the daily SMA 200 and currently trading at 0.6500 resistance level. The pair will continue to test the level and attempt to breakout above it. If the pair could break out with strong bullish momentum, then traders could expect bullish continuation to target 0.6700, 0.6750 resistance levels.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700