USDX (USD Index)
U.S dollar index extending its rally above the 100.00 level and has reached the 101.79 level. There is bearish reaction today, but it might be a temporary reaction before further upside. On the upside, 103.00 – 103.74 and the daily SMA 200 will become the targets to watch. When there are bearish reactions near the resistances levels, then traders could enter short positions in U.S. dollar.
EUR/USD
EUR/USD bearish correction continue, and the pair has reached the 1.1120 – 1.1185 levels. The pair might extend the bearish movement toward 1.1000 level and the daily SMA 200. We still think the pair will resume the bullish trend in the long-term. At the current time, traders will wait until the bearish movement losing momentum and stall near support level. When there is strong bullish reactions, traders could enter long positions targeting new higher swing high.
Today’s critical levels to watch:
Support: 1.1000
Resistance: 1.1185, 1.1300, 1.1360, 1.1500, 1.1580
GBP/USD
GBP/USD closed below the 1.3250 support level and looks making a bullish recovery today. The pair bullish trend still intact and each bearish movement is a chance for traders to enter long positions. On the lower side, 1.3000, 1.2800 and daily SMA 200 might become the bearish target if the bearish correction continues. Traders could enter long positions near the support levels with stop order below 1.2625.
Today’s critical levels to watch:
Support: 1.3150, 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY extending the bullish movement and now might target the daily SMA 200 or the 150.00 level. Traders could wait for bearish reactions near the level. When there are bearish reactions, traders could enter short positions with target new lower swing low. On the upside, a close above 151.64 might cancel the bearish outlook and switch the trend bullish.
Today’s critical levels to watch:
Support: 145.00, 142.00, 140.00, 138.00
Resistance: 149.20, 150.00
AUD/USD
AUD/USD is currently trading inside the green box area with bullish bias. As mentioned before, we still think the pair will continue the bullish trend and breakout above the area also daily SMA 200. When there is strong bullish close above the daily SMA 200, traders will get confirmation on the bullish trend continuation. At the current time, traders will use the bottom of the green box area to accumulate long positions.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700