USDX (USD Index)
U.S dollar index pushed lower and testing the 100.00 level today. The index has not broken below the level and currently hovering near it. If the index could bounce upward with strong bullish momentum, then there is chance of upward continuation to test 103.00 – 103.74 area. However, if a bearish breakout and close below 100.00 happen, then the index will resume the bearish trend to target a new lower swing low.
EUR/USD
EUR/USD trading upward today with moderate bullish momentum. The pair is set to test the 1.1300 – 1.1360 area, where a breakout will be vital for bullish continuation. On the other hand, if bearish rejection happen, then the pair might resume the bearish movement to target the 1.1000 support level and the daily SMA 200. Under the current situation, it might be better to observe the reactions from the 1.1300 – 1.1360 area first.
Today’s critical levels to watch:
Support: 1.1000
Resistance: 1.1185, 1.1300, 1.1360, 1.1500, 1.1580
GBP/USD
GBP/USD is supported by the 1.3250 level and the pair start moving upward again. If the bullish movement gaining more momentum, then we might see the test of previous swing high. On the upside, 1.3600 will become the bullish target to watch. On the other hand, if the pair turn lower again and breakout below 1.3250 then traders will expect bearish attempt toward 1.3000 level.
Today’s critical levels to watch:
Support: 1.3250, 1.3150, 1.3050, 1.3000
Resistance: 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY got rejected from the green box area just below the daily SMA 200. The pair is currently trading near the 145.00 level and will attempt to extend the bearish movement. If the bearish movement gaining more momentum, then traders will expect bearish continuation to target a new lower swing low. On the upside, we still open the chance of retest on the daily SMA 200 before further downside. A retest on the level will provide traders a chance to enter short positions.
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 consolidating inside the green box area and near the daily SMA 200. The pair next direction is not confirmed yet, but we think the next direction is to the upside. When the pair reach the bottom of green box area, traders could enter long positions with tight stop order below it.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700