USDX (USD Index)
U.S dollar index pushed lower but looks recovering right now. The index might form a pin bar at the daily close, which could turn into a bullish reversal. Traders will wait for further confirmation right now. If the index could print new lower swing low then there is chance of immediate bearish continuation. On the upside, if a new higher swing high printed, then we might see a test on 100.00.
EUR/USD
EUR/USD hovering above the 1.1710 and made bullish attempt. However, the bullish movement lost momentum and the pair currently trading below the opening level. We could say the pair range stay between 1.1710 – 1.1820 for now. If the pair turn lower again and manage to close below 1.1710 then there is a chance of continuation toward 1.1580.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD moving upward above the 1.3450 level but got rejected from the trend line. The pair might close the day not far from the 1.3450 level, and traders will wait for further reactions. If the pair could maintain the position above 1.3450 until the weekly close, then we might see a bullish attempt toward 1.3600. On the other hand, if the pair turn lower again, then we might see bearish movement to test 1.3300 – 1.3330 area.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY extended the bearish movement and gaining more momentum. The pair is testing the 147.159 level right now and will attempt to breakout below it. If the pair could resume the bearish movement and print a new lower swing low, then the bearish trend could continue. A bounce from the current level might print a higher swing low which prompt another test on 150.00.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD stabilizing above the green box area after previous day rally. The pair might attempt to continue the bullish movement to retest the trend line and 0.6700 – 0.6750 area. We maintain a bullish view on the pair and will use each bearish correction toward the green box area as a chance to add long positions.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700