USDX (USD Index)
U.S dollar index bounced upward and made two daily bullish close. The index might attempt to extend the upward movement toward the daily SMA 200. The overall direction is bearish, which mean the current upward movement could reverse anytime and the index resume the bearish trend. On the lower side, 100.00 ois the target level to watch.
EUR/USD
EUR/USD made a bearish correction after the pair reached 1.0900. The pair has 1.0800, daily SMA 200 and 1.0650 as support levels. If the pair turn lower and form bullish reactions near support levels, then traders could use it as a chance to enter long positions. On the upside, 1.1000 is the target to watch when the pair resumes bullish movement.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0500, 1.0339
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD has reached the level near 1.3000 and turn slightly lower for two days. The pair bullish trend is expected to continue, but traders will expect a bearish correction to take place. If the bearish correction happens then 1.2800, daily SMA 200 and 1.2625 will become the support levels to watch for bounce reactions.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200
Resistance: 1.3000
USD/JPY
USD/JPY is consolidating between 147.53 – 194.20 this week and no sign of leaving the area yet. The pair might close the week inside the range, and traders will wait for a close outside the range to confirm the next direction. If the pair move upward, then traders could wait near resistance level for a chance to enter short positions as the overall trend is bearish.
Today’s critical levels to watch:
Support: 145.00
Resistance: 149.20, 150.00, 151.00, 151.80
AUD/USD
AUD/USD continue trading inside a triangle area without clear direction. The situation is sideways, and it is better to wait until breakout and close outside the triangle area happen. As U.S. dollar index is expected to continue the bearish movement, traders will expect bullish movement toward 0.6500 and daily SMA 200 in the medium-term.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700