USDX (USD Index)
U.S dollar index broke above 100.00 which is a bullish sign for the index. If there is no immediate bearish reversal, then the trend might turn bullish. Traders will monitor closely the index reactions for now. A breakout and close above daily SMA 200 will further confirm that the trend has changed. Letting the index move while in transition period might be the safest choice traders could do. Or in another word, let the dust settled first as the index final direction will be clear after few days / week.
EUR/USD
EUR/USD breakout below 1.1500 level and now might continue lower to test previous swing low or the daily SMA 200. As there is no bullish reactions, it might be safe to say that the bull is not doing any reactions yet. There is no reason to turn bullish yet as the pair consecutive bearish closes continue. On the upside, 1.1580 will become resistance level when the pair attempt to move upward.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD bullish trend invalidated as it fall below 1.3125. It will test the 1.30000 and might stall or immediately break below the level. If there is a bullish bounce, then the 1.3125 will become the resistance level to watch. On the weekly time frame, if the pair manage to return above 1.3125 before the weekly close, then there is a chance to reverse the current bearish situation. Under current situation, we will look for short opportunity while taking close look on the weekly closing level.
Today’s critical levels to watch:
Support: 1.3050, 1.3000
Resistance: 1.3125, 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY turn lower and retested the previously broken swing high. There is bounce reactions and the pair recover slightly. We might see the pair consolidate near the current level or immediately continue the bullish trend to target 127.2% – 161.8% Fibonacci Extension level.
Today’s critical levels to watch:
Support: 151.00, 150.00, 149.20, 145.00, 142.00,
Resistance: 153.00
AUD/USD
AUD/USD fall below 0.6500 with strong momentum. The pair might be set to target the daily SMA 200 for retest. If the pair breakout below the averages, printed a new lower swing low, then the trend might turn bearish again. On the lower side, 0.6330 & 0.6230 might become the target to watch if the bear manage to turn the trend bearish.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700