USDX (USD Index)
U.S dollar index has not shown any strong reactions at the 100.00 level. It continues moving near the level and traders will wait for more confirmation. If there is strong bearish reactions, then the index might resume the bearish trend to target a new lower swing low. At the current time, we might not see major movement until the start of December, where the Fed end QT.
EUR/USD
EUR/USD is supported by the 1.1500 level and might continue to consolidate near the level. No new lower swing low which mean there is chance of bullish reversal. However, the pair might also continue trading sideways this week. Under current situation, it is better to wait for either a close below daily SMA 200 or above 1.1580 to confirm the next direction.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD looks trading between 1.3050 – 1.3125 and no new lower swing low printed on the chart. The consolidation might continue inside the range for now and traders will wait for breakout. On the bigger range, 1.3000 – 1.3250 is the area where the pair trading right now. A close on either side will confirm the next direction of the pair.
Today’s critical levels to watch:
Support: 1.3050, 1.3000
Resistance: 1.3125, 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY has completed the upward target and there was bearish reaction. It might start a bearish correction, but it also could extend the upward movement to target the 158.894 and 160.00 level. As the trend is bullish, when there is bearish correction, traders could use it as a chance to add long positions.
Today’s critical levels to watch:
Support: 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD stick near the daily SMA 200 and looking to form base near it. If the pair could maintain the positions, print new higher swing high, then there is chance of bullish reversal. Another close below the daily SMA 200 and new lower swing low might cancel the bullish outlook.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700