USDX (USD Index)
U.S dollar index continues under bearish pressure and is expected to continue the bearish movement toward the 100.00 support level. It might be a matter of time before the index to reach the target. Each bullish correction might be a chance for traders to enter short positions in U.S. dollar. However, if the index manages to print a new higher high and close above the daily SMA 200 then the situation might turn more bullish again.
EUR/USD
EUR/USD extends the bullish movement above the 1.0800 level and might continue toward the 1.0900 and 1.1000 resistance levels. A close above 1.1000 will confirm a long-term bullish continuation. However, if the pair start moving lower again then traders could use the 1.0650 level as a place to enter long positions when there are major bullish reactions.
Today’s critical levels to watch:
Support: 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD maintains the position above the 1.2000 – 1.2200 area and also the daily SMA 200. The pair’s next target is 1.2625 and 1.2800 resistance levels. Traders who have long positions will place a stop level below 1.2000 and continue to hold the positions for now. As long as there is no close below 1.2000, the pair could continue the bullish trend.
Today’s critical levels to watch:
Support: 1.2100, 1.2000, 1.1450
Resistance: 1.2200, 1.2625, 1.2800
USD/JPY
USD/JPY mostly sideway near the green box area. The pair might continue consolidating near the area for now and traders will wait for further confirmation. If the pair starts moving upward with strong bullish momentum then the daily SMA 200 will become the upward target. On the other hand, a new lower low will confirm a bearish continuation.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD managed to close near 0.6700 – 0.6750 area yesterday and will attempt to extend the upward movement above the daily SMA 200. However, the pair come under bearish pressure again today. We might see the pair continue consolidating near the area and the daily SMA 200. A close above the daily SMA 200 will confirm bullish continuation.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000