USDX (USD Index)
U.S dollar index resumed the bullish movement today and reached the trendline. Currently, the U.S. dollar index and the DJIA stock market continue moving upward, which is unusual. At the end of the upward movement, one must go the opposite of the other. No clue yet on the index’s next movement, traders will wait for the test on the trendline and reactions after that to determine the next direction.
EUR/USD
EUR/USD extended the bearish movement below 1.0800 and reached the 1.0650 support level today. The bearish situation of the pair might continue for now and it is better to wait for further reactions. The pair need to climb above 1.0900 and print new higher swing high to reverse the current bearish situation. Under current situation, it is better to stay sideline and wait for bullish reactions before jump in any bullish positions.
Today’s critical levels to watch:
Support: 1.0650
Resistance: 1.0800, 1.0900, 1.1000, 1.1120
GBP/USD
GBP/USD is under bearish pressure but continues to maintain the positions between the daily SMA 200 and the 1.3000 level. No breakout from the area yet which means the consolidation will continue for now. Traders will continue waiting for the pair to break out and close outside of the area to confirm the next direction. No change to the bullish structure yet which means it is better to look for long positions.
Today’s critical levels to watch:
Support: 1.2800
Resistance: 1.3000, 1.3050, 1.3250, 1.3300, 1.3450
USD/JPY
USD/JPY resumed the bullish movement above 151.80 and the daily SMA 200. The pair has not turned bearish yet as it maintains its position above the daily SMA 200. Traders will wait until the pair form a close below the averages to confirm a bearish reversal. If the pair prints a new higher swing high on the chart then the bullish movement will continue.
Today’s critical levels to watch:
Support: 151.80, 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD is back under bearish pressure as it closed below the daily SMA 200. The pair extended the bearish movement today but no movement below Friday’s low yet. It trades inside the Friday’s range and might settle inside it which means the situation is neutral. If the pair could return above the daily SMA 200 and print a new higher swing high then we will see a bullish continuation.
Today’s critical levels to watch:
Support: 0.6700, 0.6500
Resistance: 0.6750, 0.6820, 0.7000