USDX (USD Index)
U.S dollar index pushed lower and tested the level near 100.00 before bouncing upward. It seems the index might attempt to extend the bullish movement to target the level above 101.79. If the index manages to continue the bullish movement, then 103.00 – 103.74 will become the area to watch as target. Overall, the long-term trend is bearish, and it is better to look for short positions near resistance levels.
EUR/USD
EUR/USD attempting to move upward after the close above 1.1185. However, the bullish movement experience rejection and currently trading near the opening level. If the pair resume the bearish movement, then 1.1000 will become the bearish target to watch. Below the level, there is the daily SMA 200. As long as there is no new lower swing low, the trend is bullish.
Today’s critical levels to watch:
Support: 1.1000
Resistance: 1.1185, 1.1300, 1.1360, 1.1500, 1.1580
GBP/USD
GBP/USD extending the bullish movement after reclaim the 1.3250 level. The pair initially climb above 1.3330, but it turned lower now. If the pair closed lower and there is bearish follow-through, then we might see another bearish attempt to target 1.3000 and daily SMA 200. Traders will wait near support level for bullish reactions to enter long positions.
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 experience bearish rejection from the green box area and might resume the bearish trend. However, if the pair managed to continue its climb, then the 150.00 and daily SMA 200 are the major resistance level to watch. On the upside, a new higher swing high will cancel bearish outlook and start a new bullish trend.
Today’s critical levels to watch:
Support: 145.00, 142.00, 140.00, 138.00
Resistance: 149.20, 150.00
AUD/USD
AUD/USD closed near the daily SMA 200 and there is bullish continuation today. However, the pair experience rejection from the top of green box area and now trading below the opening level. We might see the pair consolidating inside the green box area and traders will wait for close outside the range. When the pair close outside the range, traders will get confirmation on the next long-term direction.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700