USDX (USD Index)
U.S dollar index trading lower below the daily SMA 200 and the 100.00 handle. There is not much movement today as U.S market is in Thanksgiving holiday. We might see the index supported near the trend line and will resume movement on Monday. Under current situation, traders better waiting for more confirmation.
EUR/USD
EUR/USD closed above the 1.1580 level and stay above it today. The pair made bullish attempt but looks back near the opening level. It might continue to consolidate near the current level and waiting for trigger to move. If the pair continue moving upward, then it will test the 1.1710 level. The next higher swing high or lower swing low will confirm the pair 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 tested the daily SMA 200 and the 1.3250 level. There is no breakout above the level yet, and the pair stick near the levels. Traders will wait for further reactions from the level. If the pair trade lower, find support around 1.3200 and continue upward, then there is a chance of bullish reversal. On the other hand, if the pair continue moving lower and print new lower swing low, then the trend will turn bearish.
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 stabilizing and looks will consolidate near the current level. The pair is expected to extend the bullish movement to target the 159.63, 160.00 and 161.82 level. As we mentioned, if the pair continue moving lower, then the green box area is the place where traders could enter long positions. Overall, the trend is bullish and there is no strong reason to turn bearish yet.
Today’s critical levels to watch:
Support: 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD keep gaining and currently trade near the green box area. The pair has not broken the short-term bearish structure yet. It needs to climb above 0.6582 to turn the trend bullish. Otherwise, it will continue moving lower and print new lower swing high and lower swing low. Traders who enter long positions near the daily SMA 200 will continue holding for now while monitoring the reactions near the previous swing high.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700