USDX (USD Index)
U.S dollar index bounced again from the 97.43 level, but the upward movement loses momentum. It might close inside the previous day’s range and make another bearish attempt. We expect the index to resume the bearish trend and print a new lower swing low. However, if the bull continues to maintain the position and produce strong bullish reaction, then the index might trade upward to test 100.00 level.
EUR/USD
EUR/USD under bearish pressure today and tested the 1.1710 level. A breakout happened, but the pair looks recovering and might close the day above the level. If the pair could maintain the position above 1.1710 until the end of the week, then there is a chance of upward continuation to test the 1.1820 level.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD got rejected from the trend line and fell below 1.3450 level. Fortunately, the pair looks recovering and might close the day above 1.3450. The range 1.3450 – 1.3600 defended for now. A close inside the range at the end of the week will confirm continuation of movement inside it. On the other hand, if the pair resume the bearish movement, then we might see it target 1.3300 – 1.3330 area and the 1.3250 level.,
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 looks bearish, but the pair seems attempting to maintain the position near multiple lows. No bearish continuation confirmation yet for now. If the pair could break out and move lower with strong bearish momentum, then traders could expect movement to target 145.00 and 142.00. Another bullish bounce with strong momentum might bring the pair to retest 150.00 level.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD is supported by the green box area. The pair might come under bearish pressure, but it might close near the top of the box. We maintain bullish outlook in the pair and will continue use the box area as a place to add long positions. A close below 0.6500 will alter our bullish outlook and open the chance for downward movement to test the daily SMA 200.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700