USDX (USD Index)
U.S dollar index bounced from the 103.82 support level and closed higher yesterday. There is a bullish continuation in today’s trading session. If the index could maintain the bullish pressure and closed higher today then the bullish trend is set to continue. On the other hand, a close below 103.82 might trigger bearish pressure to target the 100.00 – 100.30 area.
EUR/USD
EUR/USD closed lower yesterday and there is bearish follow-through today. If the pair could continue printing a bearish close then traders will expect continuation toward the 1.0339 support level. On the upside, 1.06500 – 1.0800 is the area to watch for a bearish reaction when the price managed to reach it.
Today’s critical levels to watch:
Support: 1.0339, 1.0000
Resistance: 1.0650, 1.0800, 1.0900
GBP/USD
GBP/USD made a bearish close near the 1.2200 support level yesterday. The pair might extend the bearish movement to target the 1.20000 support level. If the pair could move lower and close below 1.2000 then the bearish trend is set to continue. On the other hand, a major bullish reaction from the current level could bring the pair upward to retest the 1.2500 – 1.2625 area.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2400, 1.2500, 1.2625
USD/JPY
USD/JPY is mostly higher and hanging near the high. The pair might continue the bullish movement and print a new higher high. There is nothing traders could do aside from holding long positions or waiting for a bearish correction. On the lower side, 131.28 is the support level to watch for long positions.
Today’s critical levels to watch:
Support: 131.28, 130.00, 126.00
Resistance: 135.00, 135.19
AUD/USD
AUD/USD extends the bearish movement below the 0.7000 level. The pair is expected to target the 0.6820 support levels and continue the bearish trend. On the upside, a close above 0.7000 might cancel the bearish scenario and bring the pair upward to the target of 0.7160 and daily SMA 200. Traders will continue to stick with short positions for now.
Today critical levels to watch:
Support: 0.7000, 0.6820, 0.6750
Resistance: 0.7160, 0.7300