USDX (USD Index)
U.S dollar index could not lift itself above the 97.50 resistance level to continue toward 98.40 and the daily SMA 200. Yesterday, the index reversed its gain and closed below 96.70. Today, the index extends its bearish movement below the previous day low and expected to target 96.10 also 95.00.
It is better to avoid taking long positions in the U.S dollar at least until major bullish reversal happens.
EUR/USD
EUR/USD closed higher in the previous trading day. The movement range is inside the Friday range which means the pair current sentiment is neutral. However, we could see the pair return inside the 1.1300 – 1.1360 range. If the pair could continue its bullish movement and close above 1.1360 then traders will expect the pair to target 1.1500.
today critical levels to watch:
Support: 1.1300, 1.1185, 1.1120
Resistance: 1.1360, 1.1500
GBP/USD
GBP/USD closed lower on Friday trading session but the pair immediately reversed the situation and made bullish close in the previous trading day. The bullish close has a continuation in today’s trading session. GBP/USD currently moves above the previous day high and the daily SMA 200.
If the pair could maintain the bullish pressure then we might see it hanging near 1.2800 or 1.3000 soon.
Today Critical level to watch:
Support: 1.2625, 1.2500, 1.2200
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY bounced from the 106.70 support level but no bullish continuation yet. The pair might trade between 106.70 – 108.00 for now. No conclusion yet on the next long-term direction. As long as there is no breakout below 106.70 then USD/JPY still has a chance to return to its bullish track.
Today critical levels to watch:
Support: 106.70, 105.00
Resistance: 108.00, 109.00, 110.00
AUD/USD
AUD/USD made a bullish engulfing close yesterday. It overturns the bearish pressure and confirmed the bounce from 0.6820. At the current time, the pair continues its upward movement above the previous day high and soon will reach 0.7000 resistance.
A breakout above 0.7000 will bring the pair further higher to target 0.7160.
Today critical levels to watch:
Support: 0.6820, 0.6750, 0.6700
Resistance: 0.7000, 0.7160