USDX (USD Index)
U.S dollar index made another bullish attempt which surpass previous day’s high. However, the upward movement seems stuck near yesterday’s high after an initial break above it. At the current time, no strong confirmation yet on the next direction. The index might continue trading sideways near the current level. It could either bounce upward to test the daily SMA 200 or immediately breakout and continue toward 100.00.
EUR/USD
EUR/USD pushed lower for third days and reached the 1.0800 level today. The pair has not shown bullish reactions, which mean more bearish movement could happen. On the lower side, the daily SMA 200 will become the target to watch. If the pair could stabilize near 1.0800 and bounce upward, then traders could expect bullish continuation toward 1.1000.
Today’s critical levels to watch:
Support: 1.0800, 1.0650
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD turned lower for second days from the 1.3000 resistance level. It might finally start a bearish correction to target 1.2800, daily SMA 200 and 1.2625. If the pair managed to reach the support levels and form bullish reactions, then traders could enter long positions. We still expect the pair to continue the bullish trend in the long-term.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200
Resistance: 1.3000
USD/JPY
USD/JPY moving upward but looks limited below the 149.20 level. The pair bearish trend still intact, but we could see less bearish pressure. It might consolidate near the current level, but to continue the bearish trend it needs to immediately form a new lower swing low. On the upside, a close above 151.00 or daily SMA 200 might reverse the trend.
Today’s critical levels to watch:
Support: 145.00
Resistance: 149.20, 150.00, 151.00, 151.80
AUD/USD
AUD/USD extend the bearish movement and heading toward the bottom of triangle pattern. The pair situation is sideways inside the triangle pattern. Traders will wait for a breakout from the pattern to confirm the pair’s next direction. If the pair breakout lower and print a new lower swing low, then there is a chance of bearish continuation to 0.6000.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700