USDX (USD Index)
U.S dollar index sticks near 96.70 resistance level for a few days. The index is currently under bearish pressure and set to start a bearish correction. The nearest support level is 96.10 and traders will observe the possibility of bouncing from it. A short position in the U.S dollar is not suggested until the major support level is broken.
EUR/USD
EUR/USD reached the level near 1.1185 and trade near it. Today, there is a bullish reaction and the pair start moving upward with moderate bullish momentum. A test on 1.1300 – 1.1360 will happen and traders will observe the reaction near the area. Under the current situation, it seems the pair might extend bullish movement and target 1.1500 also 1.1580
Today critical levels to watch:
Support: 1.1185, 1.1120, 1.1000
Resistance: 1.1300, 1.1360
GBP/USD
GBP/USD printed another lower low on the chart but the pair immediately recover and currently trading above the opening level. We might see the pair bounce and start a bullish recovery to target 1.3450. If the pair manages to reach 1.13450 then traders could consider short positions on a major bearish reaction.
Today Critical level to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3000
Resistance: 1.3450, 1.3600, 1.3835, 1.4000
USD/JPY
USD/JPY reversed its bullish direction and start moving lower with strong bearish pressure today. The pair return below 114.50 level and might extend the bearish movement to target 112.00. Nevertheless, the pair trend is bullish and traders might be safer to stick with long positions. Traders who want to enter short positions will place stop orders above 114.50 or previous swing high.
Today critical levels to watch:
Support: 113.00, 112.00
Resistance: 114.50, 115.00, 115.90
AUD/USD
AUD/USD continue its bearish movement and printed a new lower low. The pair move below 0.7160 support level but manage to recover part of the losses. The pair will attempt to bounce from the level and target the 0.7300 – 0.7330 area. Traders will wait near the 0.7300 – 0.7330 area for a chance to enter short positions.
Today critical levels to watch:
Support: 0.7160
Resistance: 0.7300, 0.7330