USDX (USD Index)
U.S dollar index turned lower just before it could touch the daily SMA 200. It might be a bearish continuation confirmation. However, the index might close inside previous day’s range, which mean no breakout yet. Traders will continue to observe the index reactions for now. As mentioned before, traders will wait for chance to add short positions in U.S. dollar when there are bearish reactions.
EUR/USD
EUR/USD bounced from the daily SMA 200 and might close the day near the 1.0800 level. The pair showed initial bullish reactions which might develop into a new bullish leg. If the pair could immediately move upward and cross above the two days high, then we will have bullish continuation confirmation. On the upside, 1.1000 is the long-term target to watch.
Today’s critical levels to watch:
Support: 1.0650
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD turned upward after few days lower movement from the 1.3000 resistance level. The pair might attempt to extend the bullish movement and retest the 1.3000 level. If the pair could close above the level, then traders will get confirmation on bullish continuation to target 1.3125, 1.3250. On the lower side, there is 1.2800 level and daily SMA 200 as support levels to watch.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200
Resistance: 1.3000
USD/JPY
USD/JPY stuck between 149.20 – 151.00 area. The pair is currently trading upward and testing the upper level. We might see more consolidation inside the range, with daily SMA 200 as the major level to watch. If the pair get rejected and turn lower to print a new lower swing low, then the bearish trend will continue.
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 area and ow breakout sign yet. The pair will continue its ranging movement and traders will wait for breakout from the range. When the pair breakout from the range, traders will get confirmation on where it will move next. We maintain bullish view on the pair and favor bullish breakout toward 0.6500 and daily SMA 200.
Today’s critical levels to watch:
Support: 0.6250, 0.6000
Resistance: 0.6350, 0.6500, 0.6700