USDX (USD Index)
U.S dollar index continues its climb after the breakout from the trendline. The trend has turned bullish and now the index will target 107.37 Fibonacci Extension level. Traders will wait for a bearish pullback in the index toward the 105.00 level. When a bearish pullback happens and the index could bounce from the 105.00 level then the bullish trend could continue.
EUR/USD
EUR/USD resumed the bearish movement below 1.0650 and printed a new lower low. It means the trend has turned bearish for the long-term and there is no changing it for now. On the upside, 1.0650 will become the resistance level to watch when the pair start moving upward. As the trend has turned bearish, it is better to look for short positions when a bullish pullback happens.
Today’s critical levels to watch:
Support:
Resistance: 1.0650, 1.0800, 1.0900, 1.1000, 1.1120
GBP/USD
GBP/USD has fallen below the daily SMA 200 and 1.2800. The pair now will target the 1.2625 level and traders will observe the reactions near the level. A new lower swing low below the level will confirm a bearish continuation. On the upside, the daily SMA 200 and 1.2800 will become the resistance level to watch for short positions now.
Today’s critical levels to watch:
Support: 1.2625
Resistance: 1.2800, 1.3000, 1.3050, 1.3250, 1.3300, 1.3450
USD/JPY
USD/JPY extending the bullish movement following the strength in the U.S. dollar index. The pair could continue the bullish movement and as long as it continues to print new higher highs and higher lows, it is better to avoid short positions. On the lower side, the broken 155.00 level is a support level now.
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 fell and closed below the 0.6500 level for the first time since August. The pair extended the bearish movement today and did not show any bullish sign. The pair could continue the bearish movement and continue printing new lower lows. If the pair start moving upward then 0.6500 is the resistance level to watch.
Today’s critical levels to watch:
Support: 0.6700, 0.6500
Resistance: 0.6750, 0.6820, 0.7000