USDX (USD Index)
The bearish pressure on the U.S. dollar index continues as the index currently testing the daily SMA 200. Traders will observe closely the index reactions near the averages. If there are major bullish reactions then it could become a confirmation of a new bullish leg. However, if a close below the averages happens then the bearish trend might continue.
EUR/USD
EUR/USD climbs above the daily SMA 200 today and tested the recent swing high. The pair might extend the bullish trend and target the 1.0650 resistance level next. However, if the pair lost bullish pressure and start moving lower to close below the daily SMA 200 then the bearish trend could continue.
Today’s critical levels to watch:
Support: 1.0000, 0.9500
Resistance: 1.0339
GBP/USD
GBP/USD sticks near the 1.2000 – 1.2200 and near the daily SMA 200. The pair has not shown any major reactions from the resistance levels. We might see the pair continue consolidating near the area. If the pair get rejected with strong bearish reactions then the bearish trend toward 1.0500 and parity could continue.
Today’s critical levels to watch:
Support: 1.1450, 1.0500, 1.0000
Resistance: 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY maintains the position inside the triangle pattern shown on the chart. No breakout confirmation from the area and traders will continue to observe the pair reactions. If the pair extends the bearish movement then it might continue lower toward the daily SMA 200. On the other hand, if the pair could bounce from the triangle area with strong bullish pressure then it will confirm a bullish continuation.
Today’s critical levels to watch:
Support: 139.30, 135.19, 135.00
Resistance: 140.00, 145.00, 150.00
AUD/USD
AUD/USD is trading inside the 0.6700 – 0.6820 area. The pair is currently under bearish pressure but manage to maintain the position inside the 0.6700 – 0.6820 area. If the pair closes below the 0.6700 level then it might resume the bearish trend. On the other hand, a close above 0.6820 will confirm upward movement toward the daily SMA 200 and 0.7000.
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000