USDX (USD Index)
U.S dollar index continue the bearish movement today below the 100.00 level. No new lower swing low yet, but the bear seems building momentum to reverse the trend at 100.00. A lower swing low on the chart will become the key to bearish continuation. On the upside, when the index close above 100.00 with strong bullish momentum, it will cancel all bearish outlook.
EUR/USD
EUR/USD resume the bullish movement and currently trading above the 1.1580 level. The pair will attempt to print a new higher swing high to confirm the bullish continuation. The next higher swing high or lower swing low will confirm the pair direction. We still expect the pair to continue the bullish trend and target new higher swing highs.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD launched upward and reached the daily SMA 200 also the 1.3250 level. As we mentioned before, a close above both levels will confirm the bullish continuation. On the other hand, if the pair get rejected and turn lower & print new lower swing low, then the bearish trend will continue.
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 is in a bearish correction phase right now, it might stop moving lower, but we think there is chance of the pair to reach the green box area before bullish continuation. Traders will continue to wait until the pair form a strong bullish pattern to enter long positions. On the upside, 159.63, 160.00 are the new targets to watch.
Today’s critical levels to watch:
Support: 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD launching upward from the daily SMA 200 and has returned above the 0.6500 level. It seems the bull attempt to gain control and print a new higher swing high to turn the trend bullish. On the upside, 0.6582 is the level to surpass to confirm a bullish continuation. Meanwhile, if the pair turn lower again, close below daily SMA 200 & print lower swing low then the trend will turn bearish.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700