USDX (USD Index)
U.S dollar index continue the upward movement and reached the 100.00 handle. The test on the resistance level is ongoing and traders better wait for reactions. If the index gets rejected with strong bearish reactions, then we might see a new bearish leg. However, if the index close above 100.00 with strong momentum, then the trend might change from bearish to bullish.
EUR/USD
EUR/USD continue moving lower and almost reach the 1.1500 support level. There is no strong bullish evidence yet for now, which suggest traders to stay sideline. When there are bullish reactions, traders could consider entering long positions. A close below 1.1500 will open the chance for the pair to move lower to target daily SMA 200.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD has reached 1.3125 or our invalidation level. If the pair breakout and close below the level with strong momentum, then the bullish trend is invalidated. For now, the pair seems holding out near the level and attempting to bounce upward. On the upside, 1.3250 and the daily SMA 200 will become the major resistance levels to watch.
Today’s critical levels to watch:
Support: 1.3125, 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY hanging near the top and looks waiting for further bullish pressure. On the upside, the 127.2% and 161.8% Fibonacci Extension level will become the targets to watch. On the lower side, the 153.245 level will become the nearest support level. As the trend is bullish, traders will continue to hold long positions with stop below 151.60.
Today’s critical levels to watch:
Support: 151.00, 150.00, 149.20, 145.00, 142.00,
Resistance: 153.00
AUD/USD
AUD/USD is inside the green box area now, and it was rejected from the top of range recently. The pair might continue consolidating inside the area and traders will wait for breakout and close outside the area. The bear has the upper hand for now as it manage to print lower swing high and lower swing low.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700