USDX (USD Index)
U.S dollar index continue to be supported by the 100.00 level and might attempt to bounce upward again. At the current time, the index might stick near 100.00 and moving sideways between 100.00 – 101.79. On the upside, 103.00 – 103.74 will become the target to watch if the index extends the bullish movement. On the lower side, a close below 100.00 will confirm a bearish continuation.
EUR/USD
EUR/USD turning upward and soon will test the 1.1300 – 1.1360 area again. If the pair could break out higher, then it will continue the bullish trend to target a new higher swing high or the 1.1500 – 1.1580 area. On the other hand, if the pair get rejected and start moving lower again, then it will attempt to target the 1.1000 support level.
Today’s critical levels to watch:
Support: 1.1185, 1.1000
Resistance: 1.1300, 1.1360, 1.1500, 1.1580
GBP/USD
GBP/USD distancing itself from the 1.3250 support level and looks moving upward. However, there is no bullish continuation today and the pair might trade sideways again. If the pair resume the bullish movement, then it will target the 1.3450 and 1.3600 resistance level. On the other hand, if bearish reversal happen, then the pair might continue lower to target the 1.3000 support 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 rejection from the green box area has brought the pair down. We could see a rising wedge pattern on the chart, where the pair currently sit at the bottom of the pattern. If the pair breakout lower, then the bearish trend will continue. However, if the pair bounce upward, then it will continue moving inside the pair and trading upward. On the upside, the daily SMA 200 and the top of green box area will become the bullish target to watch.
Today’s critical levels to watch:
Support: 145.00, 142.00, 140.00, 138.00
Resistance: 149.20, 150.00
AUD/USD
AUD/USD mostly sideways inside the green box area and below the daily SMA 200. The pair will continue the consolidation for now and traders will wait for breakout and close outside the area. When the pair close outside the area, traders will get confirmation on the pair next direction. We still think a bullish breakout has high chance. However, if the pair breakout lower, then the level around 0.6250 might become the first support level to watch.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700