USDX (USD Index)

U.S dollar index extended the bearish movement and finally reach the daily SMA 200. It is the final target for the current bearish leg, and we might see some reactions. If the index bounce upward, then traders will prepare near 106.00 for bearish reactions. 106.00 – 106.75 might be the top of bullish movement if a bullish bounce happens.

We expect the index to continue the bearish movement and breakout below the daily SMA 200 in medium-term view.

EUR/USD

EUR/USD climbed above the 1.0650 level and almost reach the daily SMA 200. The pair situation is bullish, and a test will happen. If the pair get rejected from the daily SMA 200 then traders will wait at a lower level for a chance to add long positions. 1.0650 and 1.0500 will become the support levels to watch for bullish reactions.

Today’s critical levels to watch:

Support: 1.0500, 1.0339, 1.0200, 1.0100, 1.0000

Resistance: 1.0650, 1.0800

GBP/USD

GBP/USD continue the bullish movement and currently trading near the 1.2800 resistance level. We have a confirmed bullish trend now as the pair climb above daily SMA 200 and print higher swing high. If a bearish correction happens, then traders could wait near the daily SMA 200 for bullish reactions and chance to add long positions.

Today’s critical levels to watch:

Support: 1.2625, 1.2200

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY moving sideways between 149.20 – 151.00. The pair printed a bullish pin bar pattern yesterday after false breakout. The pair attempt to climb above the pattern high, but a bearish reversal has happened. Will the pair breakout lower and continue the bearish trend? Alternatively, will it climb above 151.00 also daily SMA 200 to turn the trend bullish again?

Today’s critical levels to watch:

Support: 149.20

Resistance: 150.00, 151.00, 151.80

AUD/USD

AUD/USD made a bullish engulfing pattern yesterday and there is bullish continuation above the pattern today. The pair is set to continue the upward movement to retest 0.6350 resistance level. We could say, a new higher swing low has been printed and a new higher swing high above 0.6410 will confirm the movement toward daily SMA 200 and 0.6500.

Today’s critical levels to watch:

Support: 0.6250, 0.6000

Resistance: 0.6350, 0.6500, 0.6700