USDX (USD Index)
U.S dollar index continues under bearish pressure near the 92.00 support. Fortunately, there is no breakout yet from the support level. If the index could continue to maintain the level inside the yellow box area then traders will expect the continuation of the sideways trend inside the box area.
However, if the index could breakout and close below 92.00 then traders will prepare for further weakness.
EUR/USD
EUR/USD stuck near the horizontal resistance line. No breakout above the level yet but we think the pair will eventually break out and reach 1.2000 next. At the current time, traders will continue waiting for further reactions near the horizontal level while holding long positions.
today critical levels to watch:
Support: 1.1820, 1.1710, 1.1580
Resistance: 1.2000
GBP/USD
GBP/USD printed a bearish close after there is no higher high printed on the chart. The pair currently testing the 1.3330 support level and will wait for further reaction. Traders could use 1.3250, 1.3300, and 1.3330 as levels to look for long positions. Under the current situation, it is better to avoid short positions until a lower low below 1.3125 is formed.
Today Critical level to watch:
Support: 1.3330, 1.3300, 1.3250
Resistance: 1.3450, 1.3500
USD/JPY
USD/JPY starts to move lower again and the pair currently testing the 104.00 support level. Same as in the previous analysis, if the pair could breakout and close below 104.00 then traders will expect bearish continuation toward 101.50 and 100.00. If the pair could close above 105.00 and print a higher high then it will target the daily SMA 200.
Today critical levels to watch:
Support: 104.00, 101.50, 101.19
Resistance: 105.00, 106.00, 106.70
AUD/USD
AUD/USD attempting to extend its bullish movement and target 0.7450 and 0.7500. The pair mostly sideways after the close above 0.7330. Traders who have long positions could continue to hold the position with a tight stop below 0.7300.
Today critical levels to watch:
Support: 0.7330, 0.7300, 0.7160
Resistance: 0.7450, 0.7500