USDX (USD Index)
U.S dollar index continues the bearish correction and soon will reach the 105.00 – 105.50 area. Aside from the area, there is daily SMA 200 to watch too. If the index could maintain its position and bounce from both levels then the bullish trend is set to continue. On the other hand, a close below the daily SMA 200 and a new lower low is a bearish continuation confirmation.
EUR/USD
EUR/USD traded upward and reached the daily SMA 200. The pair was slightly lower after the test on the resistance level. If the pair stat moving lower again the traders will monitor 1.0339 and the parity level for a chance of a bullish bounce. There is no conclusion yet on the pair’s next movement as it has reached the upward target. Will the pair close above the daily SMA 200 to continue the bullish trend? Alternatively, will it start moving lower again with strong bearish momentum below the parity level?
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD reached the 1.2000 – 1.2200 area today which completes the bullish target. The pair might consolidate near the area and the daily SMA 200. If the pair get rejected with strong bearish reactions then traders could enter short positions. On the lower side, 1.1450 will become support level to watch.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY pushed lower below 139.30 today but managed to recover most of the losses. The pair currently trading near the 139.30 level and might settle near it. The consolidation near 139.30 will continue and traders will monitor further reactions from the level. If the pair could bounce and form a major bullish reaction then traders could enter long positions. On the other hand, further bearish movement will target 135.50, the trendline, and the daily SMA 200.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 145.00, 150.00
AUD/USD
AUD/USD extend the bullish movement above 0.6700 and traded toward 0.6820. The pair might attempt to add more bullish pressure toward the 0.7000 and daily SMA 200. No change to the bullish scenario, traders will wait for bearish reactions near resistance levels for a chance to enter short positions with a stop above the daily SMA 200.
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000