USDX (USD Index)
U.S dollar index continues under bearish pressure following the weak job data last week. The index currently moving lower and put bearish pressure on the 110.00 support level. If the index closes lower and prints a new lower low then the bearish movement could continue toward 107.50.
EUR/USD
EUR/USD manages to return above the parity level again and will attempt to build more bullish pressure to continue toward 1.0339 and the daily SMA 200. As long as the pair could maintain the close above the parity level after the release of inflation data then there is a chance of a trend reversal. On the other hand, if the pair continues lower after the inflation data then the bearish trend is set to continue.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD returns above the 1.1450 level and currently will attempt to close above it. The pair has a chance to continue the upward movement to target the 1.2000 – 1.2200 area. However, if the pair pushed lower and close below 1.1450 again then we might see a bearish continuation.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY has not left the 145.00 – 150.00 area and the consolidation might continue. At the current time, the pair is pressuring to the downside and will attempt to break out. As long as the pair stays inside the range, traders will continue to apply range trading strategies until a breakout and close outside of the range happen.
Today’s critical levels to watch:
Support: 145.00, 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD climb above the 0.6500 resistance level today and will attempt to close above it. The pair might continue the upward movement to target 0.6700, 0.7000, and the daily SMA 200 next. Traders will continue to monitor the pair reactions near the resistance levels. If the pair form major bearish reactions then traders could enter short positions.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000