USDX (USD Index)
U.S dollar index trend is bullish but the index seems trading sideway now. There is a bearish attempt today toward 98.40 but the index has bounced from the level and currently trading above the opening level. It seems the index will settle near the current level and continue its consolidation near the 98.40 next week. In the medium-long term, we think the index could continue the bullish movement to target the level above 100.00.
EUR/USD
EUR/USD is mostly sideways near the 1.1000 level. There is no major movement with strong momentum from the level. If a bullish bounce happens then the pair could continue upward to test the 1.1120 – 1.1185 resistance area. A breakout above the area will open the path toward the 1.1300 – 1.1360 area and the daily SMA 200.
Today critical levels to watch:
Support: 1.1000, 1.0900, 1.0800
Resistance: 1.1120, 1.1185
GBP/USD
GBP/USD got rejected from the 1.3300 – 1.3330 area and settled lower. At the current time, the pair is trading at the middle of 1.3125 – 1.3250 and waiting for further reaction. If the pair could climb and close above 1.3250 then the bullish correction could continue toward 1.3450 and daily SMA 200.
Today Critical level to watch:
Support: 1.3125, 1.3000
Resistance: 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY uptrend is unshakeable as the pair continue to maintain the bullish pressure. There is no bearish correction which means no reason to become bearish yet. At the current time, traders will continue waiting for a bearish correction to enter more long positions.
Today critical levels to watch:
Support: 115.90, 115.00, 114.50
Resistance: –
AUD/USD
AUD/USD is trading inside the orange box area and is expected to close the week inside it. Traders will wait for a further reaction from the box area now. If the pair get rejected with strong bearish momentum then we might see a start of bearish correction toward the 0.7450, 0.7300 – 0.7330 area, and the daily SMA 200.
Today critical levels to watch:
Support: 0.7450, 0.7330, 0.7300, 0.7160
Resistance: 0.7500, 0.7550