USDX (USD Index)
U.S dollar index bounced from the support level and looks like it will continue moving upward to test the daily SMA 200. The current trend is bearish, which mean traders will expect bearish reactions from the resistance level. When there are bearish reactions, traders could enter short positions in U.S. dollar. A breakout below the support level and new lower low will confirm continuation toward the 100.00 level.
EUR/USD
EUR/USD bearish correction continue and currently trading near the 1.0800 level. The pair might extend the bearish movement and target the daily SMA 200. When the pair reaches the daily SMA 200 and produce strong bullish reactions, then traders could enter long positions to target 1.1000.
Today’s critical levels to watch:
Support: 1.0800, 1.0650
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD started a bearish correction after the rejection from 1.3000 resistance level. The pair has downward room toward the 1.2800 and daily SMA 200. At the current time, traders will wait for the pair to reach the support level and lost bearish momentum. When there is bounce reactions, traders could enter long positions targeting the level above 1.3000.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200
Resistance: 1.3000
USD/JPY
USD/JPY is in bearish trend with new lower low and lower high. No change to the situation yet, but the pair printed a new higher low. It means there is a chance of upward continuation this week before the pair turn lower again. On the upside, 150.00 and 151.00 will become the resistance level to watch for bearish reversal.
Today’s critical levels to watch:
Support: 145.00
Resistance: 149.20, 150.00, 151.00, 151.80
AUD/USD
AUD/USD is consolidating inside the triangle pattern, with no breakout yet. The pair is currently moving lower to test the bottom of the triangle. We might see bounce reactions from the bottom of the triangle and use it as a chance to enter long positions. We expect the pair to continue trading inside the triangle area with bullish bias.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700