USDX (USD Index)
U.S dollar index trading above 100.00 & daily SMA 200, but no significant bullish momentum above it. No new higher swing high where the index might continue moving sideways near the current level. As we mentioned before, a major breakout above both 100.00 & daily SMA 200 will confirm the bullish continuation. For now, the bull still in control, but no conclusion yet on the bullish continuation.
EUR/USD
EUR/USD back under bearish pressure and currently trade near the 1.1500 level. The pair will attempt to breakout lower and target the daily SMA 200. Despite the bearish situation, we maintain bullish outlook on the pair and will wait for bounce reaction from the 1.1500 & daily SMA 200. On the lower side, 1.1392 is the major support level to watch.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD fell and closed below 1.3125, found support at 1.3050 and currently trading upward. No lower swing low printed on the chart, which mean a consolidation between 1.3050 – 1.3125 might happen for now. If the pair turn upward, then the daily SMA 200 & 1.3250 will become the target to watch.
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 161.8% Fibonacci Extension level and currently undergo bearish pressure. The target has been reached, it might move lower to retest previously broken resistance at 155.00. We maintain a bullish outlook on the pair for now and will use each bearish correction as a chance to add long positions.
Today’s critical levels to watch:
Support: 151.00, 150.00, 149.20, 145.00, 142.00,
Resistance: 153.00
AUD/USD
AUD/USD closed below the 0.6500 level and the daily SMA 200. It is in a bearish area now and has a chance to continue the bearish movement. However, if the pair immediately return above daily SMA 200 then it might turn into false breakout. On the chart, we could see the highs turn lower while the lows mostly the same, which mean the bear has control.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700