USDX (USD Index)
U.S dollar index extend the bearish movement and looks ready to resume the bearish trend to target a new lower swing low. The index getting more distance from 100.00 for now. However, there is chance of upward reversal too as long as the index has not printed a new lower swing low. On the upside, a close above 100.00 & the daily SMA 200 will turn the trend bullish.
EUR/USD
EUR/USD launched upward strongly above the 1.1580 level. The pair might continue gaining and target the 1.1710 level. As we mentioned before, a close above 1.1710 will confirm the continuation of bullish trend. Traders who has entered long positions from the 1.1500 – 1.1580 area will continue to hold the positions for now.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD maintain the position above the 1.3125 level and make a higher high today. The pair looks will continue the bullish movement to target the daily SMA 200 & 1.3250. If the pair could close above daily SMA 200 and climb above 1.3450 then the trend could turn bullish again. On the other hand, strong bearish rejection from the daily SMA 200 could become a bearish signal.
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 has reached the 127.2% Fibonacci Extension level and looks weakening. The pair might move lower to retest the 153.245 level before continuing upward. If there is no change to the trend, then the pair could continue the bullish movement to target 157.34. On the lower side, a close below 152.84 might indicate weakness and change of short-term trend to bearish.
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 currently trading near the 50% level. The pair might keep consolidating inside the green box area and traders will wait for breakout from the area. We maintain bullish outlook as long as the pair stay above 0.6500 and the daily SMA 200.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700