USDX (USD Index)
U.S dollar index make a bullish attempt but lose the upward pressure. The index currently moves below the opening level but no major bearish movement yet. We could see a bullish trend line protecting the index from further downside. Next week, we might see movement in the index, especially after the QT ended by the Fed. However, traders might not expect major movement until 10th December, where the Fed will set interest-rate.
EUR/USD
EUR/USD maintain the position above 1.1580 and might continue trading near the level for now. A consolidation between 1.1500 – 1.1580 could happen too before the Fed interest-rate decision. Overall, we think the pair will resume bullish trend and target 1.1710 and higher. On the lower side, the daily SMA 200 is the major support level to watch when there is bearish correction.
Today’s critical levels to watch:
Support: 1.1500, 1.1360, 1.1300
Resistance: 1.1580, 1.1710, 1.1820
GBP/USD
GBP/USD has reached the daily SMA 200 and the 1.3250 level. No strong reactions from the levels yet as the pair stick near it. Traders will monitor the pair reactions near both levels. If there is bearish reaction, then there is chance for the pair to move to 1.3200 and 1.3125. When there are bullish reactions, traders could consider entering long positions near the levels.
Today’s critical levels to watch:
Support: 1.3125, 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY mostly flat today which mean no change to the outlook. If there is bearish continuation, then the green box area is the ideal area to add long positions. We expect the pair to continue upward and will use each bearish correction as a chance to add long positions. On the weekly timeframe, 145.00 will become the invalidation level for the current bullish trend.
Today’s critical levels to watch:
Support: 153.00, 151.00
Resistance: 158.89, 160.00
AUD/USD
AUD/USD extend the gain and soon will challenge previous swing high. When the pair climb and print new higher swing high, it will confirm a bullish continuation. On the lower side, the daily SMA 200 is the major support level to watch.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700