USDX (USD Index)
Bullish pressure experienced by U.S. dollar index after the latest tariff announcement by Trump’s administration. The index soon will leave the Fibonacci Retracement area and continue the bullish movement. However, last week, DJIA index manage to recover its losses and closed higher. On the weekend, Cryptocurrency made a massive “V” shape recovery. It could mean a bearish opening for the U.S. dollar index on Monday.
If the index resumes the bearish movement, then the daily SMA 200 will become the bearish target to watch.
EUR/USD
EUR/USD under bearish pressure, but maintain a close above the 1.0339 level last week. The pair will attempt to maintain its position above the support level and bounce higher. If a bullish bounce happens, then the pair might consolidate between 1.0339 – 1.0500 area. A breakout and close above 1.0500 will open the path toward 1.0650 and daily SMA 200.
Today’s critical levels to watch:
Support: 1.0339, 1.0200, 1.0100, 1.0000
Resistance: 1.0500, 1.0650, 1.0800
GBP/USD
GBP/USD got rejected from the daily SMA 200 and start moving lower. The pair closed below the 1.2625 level and might resume the bearish trend. On the latest bullish attempt to higher swing high printed yet. However, the current bearish reactions might be a profit-taking reactions before further upside. Traders will continue to observe the pair reactions near the daily SMA 200 for now.
Today’s critical levels to watch:
Support: 1.2625, 1.2200
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY bounced and closed above the 150.00 level. The pair retested the broken 151.00 level. We might see another retest on the level and traders will wait for reactions. On the upside, the pair need to close above daily SMA 200 and print a new higher swing high to reverse the current bearish pressure. On the lower side, no new lower swing low printed yet. If the pair manage to print a new lower swing low, then the trend will turn bearish for medium-long term.
Today’s critical levels to watch:
Support: 149.20
Resistance: 150.00, 151.00, 151.80
AUD/USD
AUD/USD closed lower for six days. It means no bullish reactions last week as the market observe Trump’s tariff. Will the pair stop the bearish movement and stabilize, then moving upward? At the current time, the pair retraced more than half of its previous rally. If the pair bounce from the current level, then it will print a new higher swing low. The key is, as long as the pair does not print a new lower swing low, then the trend could turn bullish.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700