USDX (USD Index)
U.S dollar index pushed lower yesterday, but there is no bearish continuation today. The index looks trading upward today and might attempt to return to 100.00 level. Traders will observe the index reaction for now. In the medium-long term, we still think the index will resume the bearish trend to print a new lower swing low. However, if the index manages to print a new higher swing high and close above the daily SMA 200 then the long-term trend might change to bullish.
EUR/USD
EUR/USD building more bullish pressure and currently trading above 1.1300 – 1.1360 area. The pair might attempt to extend the bullish movement toward 1.1580 level again. However, if the pair come under bearish pressure and fall with strong bearish momentum, then it might attempt to target 1.1000 support level again.
Today’s critical levels to watch:
Support: 1.1185, 1.1000
Resistance: 1.1300, 1.1360, 1.1500, 1.1580
GBP/USD
GBP/USD has reached the level near 1.3600 and experience slight bearish pressure now. Although under bearish pressure, the pair maintain its position and no new lower low printed on the chart yet. If the pair start a bearish pullback, then traders could wait near the 1.3450 level or the previously broken resistance level to enter long positions. On the upside, the pair might target 1.3835 and 1.4000 resistance level next.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY bounced from the 142.00 level with strong bullish reactions today. If the pair maintain the bullish pressure, then it will engulf the previous two candlesticks and open the chance toward 145.00 or higher. Traders will use the bullish correction movement as a chance to enter short positions in the pair. However, wait until the bullish pressure losing momentum or stall near resistance level before entering positions.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD printed a bearish pin bar pattern near the 0.6500 level and created a false breakout signal. The pair is currently under bearish pressure and testing the daily SMA 200. If there is bearish extension, then the pair will target the bottom of the green box area. Traders will continue to assume that the pair is consolidating inside the area and prefer long positions for now.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700