USDX (USD Index)
U.S dollar index shows a bearish reaction before it could reach the 99.40 resistance level. The index closed lower yesterday and there is bearish follow-through today. If the bearish situation continues then traders will expect the index to reach the 97.50 support level. Will the index breakout below the level and continue the bearish correction toward 96.70 and 96.10.
EUR/USD
EUR/USD enjoy bullish pressure after the previous day bounced from the 1.1000 support level. The pair moving upward and currently testing the 1.1120 – 1.1185 area. If the pair breakout and closes above the area then traders will expect a bullish continuation toward the 1.1300 – 1.1360 area. On the other hand, bearish reversals and continuation below 1.1000 are confirmation of bearish movement toward 1.0800.
Today’s critical levels to watch:
Support: 1.1000, 1.0900, 1.0800
Resistance: 1.1120, 1.1185
GBP/USD
GBP/USD is on the path toward the 1.3000 support level. However, the pair show a bullish reaction before it could reach the level. At the current time, the pair is moving upward but contained inside yesterday’s range. If the pair continues moving upward then there is a possibility of a higher low printed. A movement above 1.3300 – 1.3330 will print a higher swing high which confirms a bullish reversal.
Today Critical level to watch:
Support: 1.3125, 1.3000
Resistance: 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY printed a significant bearish close yesterday and there is a bearish continuation today. The pair is slightly lower but sticks near yesterday’s low. If the pair continue the bearish movement then traders will monitor the pair movement inside the blue box area. A bounce reaction from the area might confirm further upside.
Today critical levels to watch:
Support: 120.00
Resistance: 125.00
AUD/USD
AUD/USD continues the ranging movement inside the orange box area. The pair will continue the consolidation for now and traders will wait for movement outside of the range. If the pair start moving lower then it might target the 0.7300 – 0.7330 area. A close above the orange box area is bullish confirmation toward 0.7640.
Today critical levels to watch:
Support: 0.7450, 0.7330, 0.7300, 0.7160
Resistance: 0.7500, 0.7550