USDX (USD Index)
U.S dollar index consolidating below the 100.00 with no new lower low printed on the chart. Traders are waiting for the release of inflation data this week, and the FOMC meeting next week. The sideways situation is expected to continue and it might be better to stay sideline for now. When there is strong momentum movement, traders will get a clue on the next direction. If the index resumes the bearish trend, then the 97.43 is the support level to watch. On the upside, 100.00 is the level to watch.
EUR/USD
EUR/USD continue consolidating between 1.1300 – 1.1500. There is no change to the outlook compared to yesterday. The pair will continue the ranging movement for now, and traders will wait for confirmation after news releases. This week, there is CPI and PPI data, while next week, there is FOMC interest-rate decision. We could expect the sideways situation to continue if there is no major change in the outlook.
Today’s critical levels to watch:
Support: 1.1360, 1.1300, 1.1185, 1.1000
Resistance: 1.1500, 1.1580
GBP/USD
GBP/USD pushed lower today, but mostly maintain the position inside 1.3450 – 1.3600 area. The pair might continue trading inside the range until next week FOMC meeting. If bearish breakout happen, then the pair has potential to target 1.3250 support level. Meanwhile, bullish breakout will open the path toward 1.3835 and 1.4000.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY keep pressuring on the 145.00 level for now, but it seems the pair will close the day near it. At the current time, the pair range span between 142.00 – 145.00 and traders will wait until breakout happen to confirm the next direction. We still think the pair will continue the bearish movement to target 140.00 and 138.00 support levels. The next higher swing high or lower swing low will confirm the direction.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD stay near the top of green box area or the 0.6500 level. The pair mostly sideways for now and no confirmation yet on the next direction. In the long-term, we still think the pair will continue the bullish trend and target 0.6700, 0.6750 levels. However, if the pair turn lower, close below the green box area, then there is potential of bearish reversal to target 0.6000 again.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700