USDX (USD Index)
U.S dollar index stage a bounce from the daily SMA 200 and closed the day on the positive side. However, there is no bullish continuation in today’s trading session. The index needs to surpass and close above yesterday’s high to confirm a bullish continuation. If the index reverses the direction and closes below the daily SMA 200 then we might see a new bearish trend.
EUR/USD
EUR/USD could not print a close above the daily SMA 200 and made a bearish close yesterday. The pair continue to stick between the daily SMA 200 and 1.0339. Traders will wait for a close outside of the range to confirm the next direction. In the longer-term outlook, the current level might be the best level to look for short positions.
Today’s critical levels to watch:
Support: 1.0000, 0.9500
Resistance: 1.0339
GBP/USD
GBP/USD got rejected from the daily SMA 200 and the 1.2000 – 1.2200 area. The pair attempted to move upward today but it lost the bullish momentum. No movement below yesterday’s low which means the current situation is neutral. If the pair continues moving lower then it might target the 1.1450 level.
Today’s critical levels to watch:
Support: 1.1450, 1.0500, 1.0000
Resistance: 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY is ranging inside the triangle area as shown on the chart. The pair have not printed a close outside of the range which means traders could continue to use the range to do a range trading strategy. If the pair closes below the triangle area then it will target the daily SMA 200. On the other hand, a bullish continuation from the current level could start a new bullish trend.
Today’s critical levels to watch:
Support: 139.30, 135.19, 135.00
Resistance: 140.00, 145.00, 150.00
AUD/USD
AUD/USD closed below the 0.6700 level yesterday but the pair currently moving upward with strong bullish momentum. Will the pair print a bullish close above yesterday’s high to confirm a bullish continuation? Alternatively, will it close below 0.6700 and resume the bearish movement?
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000