USDX (USD Index)
U.S dollar index pushed lower yesterday and might start a movement toward 103.82 and 100.00. However, the bearish pressure receded and the index start moving upward again today. Traders might need to spend more time waiting until the index makes a decisive move toward the daily SMA 200 or toward 103.82.
EUR/USD
EUR/USD managed to close above the 1.0650 resistance level today. However, the pair immediately lose the level and move lower with strong bearish momentum today. If the pair continues moving lower and print a new lower low then the bearish movement could continue toward the daily SMA 200 and 1.0339 support level.
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 is under bearish pressure again below the 1.2000 support level. Fortunately, there is no lower low printed on the chart yet. At the current time, traders will continue to monitor the pair reactions. If a new lower low is printed on the chart then the bearish trend will continue. On the other hand, if the pair could return above 1.2000 and close above the daily SMA 200 then there is a chance of a bullish continuation.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY back into the bullish track as the pair move upward toward the daily SMA 200. A test on the daily SMA 200 will happen and traders will monitor the reactions. If the pair get rejected again then traders could consider entering more short positions. On the other hand, a close above the averages could change the current bearish trend.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD managed to print a bullish close yesterday after the bounce from the 0.6700 – 0.6750 area. However, the pair back under bearish pressure and return inside the area again. If the pair continue the bearish movement and print a new lower low then the bearish trend will continue. On the other hand, a close above the daily SMA 200 will cancel the bearish outlook and let the pair move upward to retest 0.7000 and 0.7160 again.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000