USDX (USD Index)

U.S dollar index bounced from the daily SMA 200 but no strong bullish momentum was seen on the chart. The index might continue trading sideways near the current level and traders will monitor the index reactions. Will the index continue the bullish movement and print a new higher high? Alternatively, will it resume the bearish movement and close below the daily SMA 200 and the trendline to confirm a bearish reversal?

EUR/USD

EUR/USD trading upward today before the pair could reach the daily SMA 200 and 1.0800. It seems the pair will attempt to extend the upward movement and target the 1.0900 resistance level. The current situation is bullish as the pair stays above the daily SMA 200 but it needs to close above 1.0900 to confirm the continuation of the bullish trend. A close below the daily SMA 200 might delay the bullish movement.

Today’s critical levels to watch:

Support: 1.0800, 1.0650, 1.0500

Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360

GBP/USD

GBP/USD moving inside the 1.2625 – 1.2800 area and might reach the top of the range soon. Consolidation inside the 1.2625 – 1.2800 range might happen and traders will wait for a close outside of the area. When a close outside of the range happens, traders will get confirmation of the next direction. Based on the current situation, a movement above 1.2900 or below 1.2300 might confirm the pair’s next long-term direction.

Today’s critical levels to watch:

Support: 1.2625, 1.2200, 1.2100, 1.2000

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY slowly moving upward and will attempt to extend its bullish trend. A new higher swing high will confirm the continuation of the bullish trend. However, if the pair start moving lower again then it will target the 151.80 support level. A close below 150.00 and a daily SMA 200 will confirm the long-term bearish reversal. Will the pair break from it bullish structure and enter a bearish trend?

Today’s critical levels to watch:

Support: 150.00, 147.00, 145.00, 142.00, 141.00

Resistance: 155.00

AUD/USD

AUD/USD got rejected from the 0.6700 resistance level and traded lower for a few days. There is a bullish movement today but the pair looks contained within the previous day’s range. If the pair could extend the bullish movement and print a new higher swing high then the bullish movement could continue. On the lower side, the daily SMA 200 will become the support level to watch.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6170, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000