USDX (USD Index)
U.S dollar index come under bearish pressure after the release of U.S CPI data. Inflation number continue to move lower which will continue put pressure on the Fed to start cutting interest-rate. Tomorrow, there will be PPI data, and next week FOMC interest-rate decision. Traders will observe the news release for now. If the bearish trend continues, then the index will target 97.43 level on the lower side. On the upside, 100.00 is the nearest resistance level to watch.
EUR/USD
EUR/USD moving upward and is set to retest the 1.1500 resistance level. If the pair breakout higher, then it will target the 1.1580 for retest. On the upside, if the bullish trend could continue, then 1.1710 and 1.1820 are the targets to watch. On the lower side, if the pair fall below 1.1300, then it will target 1.1000 support level.
Today’s critical levels to watch:
Support: 1.1360, 1.1300, 1.1185, 1.1000
Resistance: 1.1500, 1.1580
GBP/USD
GBP/USD mostly contained within 1.3450 – 1.3600 area and currently will continue consolidating inside it. Traders will wait for a breakout from the range to confirm the next direction. If the pair breakout lower, then it might target the 1.3250 support level. On the upside, if 1.3600 broken, then the pair could move upward to target 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 closed below 145.00 which mean no breakout yet. The pair continue testing the resistance level and looking for upward breakout. At the current time, the pair is trading between 142.00 – 145.00 and traders will wait for close outside the range. We still think the pair will resume the bearish trend to target 140.00 and 138.00. However, if the pair continue to stick near 145.00 and maintain the bullish pressure, then a short-term reversal might happen.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD stick near the top of green box area and there is no major reactions yet. The pair keep attempting to move upward, but we could say nothing changed yet. Traders will wait for breakout with strong momentum to confirm the pair next direction. If the pair turn lower, then the daily SMA 200 and the bottom of box area will become support levels to watch.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700