USDX (USD Index)
The bullish pressure of the U.S. dollar index finally receded as the index start moving lower today. The bearish movement brings the index down below yesterday’s low. If the index continues the bearish movement then traders will expect a test on the 103.82 level. Further weakness below the level could bring the index lower to the target 100.00 level.
EUR/USD
EUR/USD make a bullish attempt today and has climbed above the 1.0650 level. The pair will attempt to maintain bullish pressure and closed above the resistance level. If the pair could close above 1.0650 then there is a chance of bullish continuation. On the other hand, if the pair get rejected from the 1.0650 level then we might see a bearish continuation toward the 1.0339 and daily SMA 200.
Today’s critical levels to watch:
Support: 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD maintains the position inside the 1.2000 – 1.2200 area and near the daily SMA 200. The pair will continue the consolidation inside the area and traders will wait for close outside of the range to confirm the next direction. As long as there is no lower low printed on the chart, there is a chance of bullish continuation. At the current time, traders will continue waiting for closing outside of the 1.2000 – 1.2200 range.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY reached the level near the daily SMA 200 and show bearish rejection. The pair might continue moving lower to target the green box area. If the pair could close below the area then the trend will continue bearish for the medium-long-term. On the other hand, if the pair could close above daily SMA 200 then there is chance of bullish continuation.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD bounce from the 0.6700 – 0.6750 area with strong bullish momentum today. The pair will attempt to extend the upward movement and make a close above the daily SMA 200. A close above the daily SMA 200 will confirm an upward continuation to target 0.7000 and 0.7160. However, if the pair fail to print a close above daily SMA 200 then traders will expect more bearish pressure on the 0.6700 – 0.6750 area.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000