USDX (USD Index)
The bullish pressure of the U.S dollar index stopped near the trendline and it undergo a bearish correction. No touch on the 100.00 handle yet and traders will wait for a bearish correction up to 97.50 support level. If the index shows a bullish reaction from the support level then traders could start entering more long positions in the U.S dollar.
EUR/USD
EUR/USD started a bullish correction and currently trading at the 1.1000 level. If the pair continues the upward movement then it could target the 1.1120 – 1.1185 area. Short positions could be taken near the area when there is a major bearish reaction from the area.
Today critical levels to watch:
Support: 1.0800
Resistance: 1.0900, 1.1000, 1.1120
GBP/USD
GBP/USD show bullish reaction following the global market situation. It is a bullish correction time and traders will prepare near the resistance level for a chance to enter short positions. On the upside, 1.3450 is the level to watch for a bearish reaction. The pair needs to break the daily SMA 200 or the trendline before traders shift focus to bullish positions.
Today Critical level to watch:
Support: 1.3125, 1.3000
Resistance: 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY building bullish pressure toward the 115.90 resistance level. There is no breakout above the level yet which means the consolidation inside the triangle pattern will continue. Traders will wait for a breakout from the triangle area before deciding on the next long-term direction.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD closed below the daily SMA 200 but it is a temporary bearish close. At the current time, the pair has traded above the daily SMA 200 and will attempt to continue the upward movement. On the upside, 0.7450 and 0.7500 are the levels to watch as targets. We think the trend will slowly shift to bullish and suggest traders take fewer short positions.
Today critical levels to watch:
Support: 0.7330, 0.7300
Resistance: 0.7450, 0.7500