USDX (USD Index)
U.S dollar index maintains a close above 103.82, but there is no bullish continuation above the level. At the current time, the index is under bearish pressure. As long as the index stays above 103.82 then we might see further bullish continuation. However, if the index continues moving lower then traders will use the 100.00 – 100.30 area as a support level to watch.
EUR/USD
EUR/USD resumes the bullish movement toward the 1.06500 resistance level. The pair has not touched the resistance level yet. Traders will monitor the pair reaction near the 1.0650 – 1.0800 area. If the pair get rejected with strong bearish pressure then the bearish trend is set to continue. On the other hand, a close above 1.0800 will change the trend from bearish to bullish.
Today’s critical levels to watch:
Support: 1.0339, 1.0000
Resistance: 1.0650, 1.0800, 1.0900
GBP/USD
GBP/USD looks trading sideway near the 1.2200 support level. The pair has not shown any strong bullish reaction. If the pair continues moving upward then 1.2500 – 1.2625 is the area to watch for a bearish reaction. On the lower side, as long as a new lower low is printed then the trend will continue to bearish.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2400, 1.2500, 1.2625
USD/JPY
USD/JPY started a bearish correction but the bearish movement seems losing pressure. The pair mostly trading sideway now and waiting for a trigger to move. If the pair continue the bearish correction then traders will wait near the 131.28 support level for a chance to enter long positions.
Today’s critical levels to watch:
Support: 131.28, 130.00, 126.00
Resistance: 135.00, 135.19
AUD/USD
AUD/USD direction is downward and there is no change to the situation yet. The pair has not printed a new lower low and is trading below the 0.7000 level. Traders who have short positions will continue to hold the positions for now with 0.6820 as a bearish target. On the upside, a close above 0.7000 will open an upward chance toward 0.7160 and the daily SMA 200.
Today critical levels to watch:
Support: 0.7000, 0.6820, 0.6750
Resistance: 0.7160, 0.7300