USDX (USD Index)
The bullish reactions in the U.S. dollar index have a chance to move toward the 103.50 and daily SMA 200. However, the index’s upward movement halted yesterday which might reverse the index direction again. If the index could move upward and reach a resistance level then traders could enter short positions in the U.S. dollar. On the lower side, 100.00 is the long-term bearish target to watch.
EUR/USD
EUR/USD pushed lower below the 1.0900 support level and currently consolidating near it. If the pair continue the bearish movement then 1.0800 and 1.06500 will become the bearish target to watch. Traders could consider entering more long positions on the lower level after bullish reactions. On the upside, we think the pair could continue upward and print a new higher high.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0650, 1.0339
Resistance: 1.1000
GBP/USD
GBP/USD made a bullish close yesterday and might continue the bullish movement toward 1.2625 and 1.2800 again. As mentioned in the latest analysis, if the pair continue the bearish movement toward the 1.2000 – 1.2200 area and the daily SMA 200 then traders could use the chance to enter more long positions. As long as there is no lower low printed on the chart, the bullish trend could continue.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000, 1.1450
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY is on the path upward to target the daily SMA 200. There is no confirmation yet on the pair’s long-term direction. At the current time, the pair is consolidating between the green box area and the daily SMA 200. The next higher high or lower low might confirm the pair’s long-term directions. Traders better stay sideline until the next direction is confirmed.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD closed below the daily SMA 200 and there is a bearish continuation. However, the bearish pressure seems receding as the pair make a bullish close near 0.6700 yesterday. Traders will observe the pair reactions near the daily SMA 200 and the 0.6700 levels. If the pair close above both levels and print a new higher high then the bullish trend could continue. On the lower side, 0.6500 will become the bearish target to watch.
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000