USDX (USD Index)
The overall situation of the U.S. dollar index is bearish for now, but we could see there is no lower low printed yet on the chart. If the index failed to reach 100.00 or prints a new lower low then we might see a bullish reversal in the index. On the upside, the daily SMA 200 will become the target to watch. A close above the daily SMA 200 practically will print a new higher high which confirms a bullish continuation.
EUR/USD
EUR/USD stick near the 1.0900 resistance level and keep testing it for now. The pair will attempt to break out and continue the current bullish movement toward the 1.1000 resistance level. A close above 1.1000 will become a long-term bullish confirmation. If the pair start a bearish correction then traders could use 1.0800 and 1.06500 as a place to enter long positions.
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 is set to continue the bullish movement to target the 1.2625 and 1.2800 resistance levels. There is no change to the bullish situation yet as long as the pair stays above the daily SMA 200 and 1.2000 – 1.2200 area. However, if the pair moves lower and close below the daily SMA 200 and also prints a new lower low then the trend might turn bearish again.
Today’s critical levels to watch:
Support: 1.2100, 1.2000, 1.1450
Resistance: 1.2200, 1.2625, 1.2800
USD/JPY
USD/JPY continues trading near the green box area and will wait for further confirmation. If the pair continues the bullish movement then it will target the daily SMA 200. The pair need to print a new lower swing low to continue the bearish trend. On the upside, a close above the daily SMA 200 will cancel the bearish outlook and bring the pair to the new bullish trend.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD sticks near the 0.6700 – 0.6750 area and the daily SMA 200. We are waiting for the pair to make a reaction from the area. If the pair could close above the daily SMA 200 then the bullish movement could continue. On the other hand, if the pair start moving lower with strong bearish momentum then we might see a continuation toward the 0.6500 support level.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000