USDX (USD Index)
U.S dollar index stay below the 100.00 handle, but no major bearish continuation seen yet. The index might continue trading near the current level and traders will wait for further confirmation. It might attempt to move higher and breakout above 100.00. But, it also could resume the bearish trend to target new lower swing low. Overall, we maintain bearish outlook but prepare to switch side if the index violated the 100.00 and daily SMA 200.
EUR/USD
EUR/USD bounced from the 1.1500 level and currently sit near the 1.1580 level. The pair might attempt to resume the bullish trend and traders will get confirmation of bullish continuation after the pair close above 1.1710. On the lower side, if the bearish correction continues, then the daily SMA 200 could become the target.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD closed above 1.3125 on the weekly chart, which mean the 1.3125 level invalidated on the daily chart, but the bull defended it. If the pair could gain strong bullish momentum and close above 1.3250 or daily SMA 200 then the situation will turn bullish. Failure to close above the levels might drive the pair down to retest 1.3125 again.
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 turned higher and looks will test October high. On the upside, the 155.04 and 157.34 levels are the targets to watch. If the pair turn lower again, then we might see a bearish attempt at the 151.64 level. Overall, the situation looks bullish, which mean traders will look for long positions when a bearish correction happens.
Today’s critical levels to watch:
Support: 151.00, 150.00, 149.20, 145.00, 142.00,
Resistance: 153.00
AUD/USD
AUD/USD launched upward with strong bullish momentum from the 0.65000 level. The support level is respected, and now the pair will attempt to trade higher, form higher swing high to confirm bullish continuation. On the lower side, a close below the daily SMA 200 and new lower swing low will cancel the current bullish outlook.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700