USDX (USD Index)
U.S dollar index finally extended the bearish trend and reached the level near target 97.43. The index bearish movement has momentum, but it happened just before the weekly close and next week FOMC meeting. Traders will observe the index reaction near the support level. If there is bounce, then there is a chance of bullish movement to retest 100.00 again next week.
EUR/USD
EUR/USD launched upward and surpassed the 1.1580 resistance level today. The pair printed a new higher swing high, but it might close the day near the 1.1580 level. If the bull continues to maintain the upward pressure, then there is chance of immediate continuation toward 1.1710 before next week FOMC meeting. A clean breakout above 1.1580 and upward movement toward 1.1820, then a bearish reversal, might be an ideal scenario to watch.
Today’s critical levels to watch:
Support: 1.1360, 1.1300, 1.1185, 1.1000
Resistance: 1.1500, 1.1580
GBP/USD
GBP/USD is testing the 1.3600 resistance level right now. No breakout above the level yet, and the pair might close the day inside the 1.3450 – 1.3600 area. Traders will continue to monitor the pair movement inside the area. When there is a breakout and close outside the range, traders will get confirmation on the next direction.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY got rejected from the 145.00 resistance level and start moving lower. It will retest the 142.00 level and attempt to breakout below it. If the pair could extend the bearish movement and close below 142.00, then traders will get bearish continuation confirmation. On the lower side, 140.00 and 138.00 is the bearish target to watch.
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 sideways near the top of green box area. The pair is waiting for bullish catalyst to continue the bullish trend. Right now, traders will use the daily SMA 200 and the bottom of the green box area as places to add long positions. On the lower side, a breakout and close below the green box area with strong momentum is confirmation of bearish trend.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700