USDX (USD Index)
U.S dollar index bullish trend halted as the bearish pullback started. The index is expected to continue the bearish movement to target the 110.00 support level. Traders will wait until the index reaches the level and print bullish reactions to enter long positions in the U.S dollar. Currently, it is better to wait sideline and avoid short positions in the U.S dollar as the trend is bullish.
EUR/USD
EUR/USD trading upward from the 0.9500 support and will target the parity level. Traders will observe the pair movement near the parity level. If the pair get rejected with strong bearish reactions then traders will prepare for a bearish continuation. On the other hand, if the pair could climb and close above the parity level then we might see a bullish continuation.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD current undergoes a bullish correction with 1.1450 as an upward target. Traders will continue to monitor the pair reactions near the resistance level. If the pair show bearish reactions, traders could enter short positions with a new lower low or parity level as targets.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY maintains the positions near the high and continues trading sideways. There are no major reactions yet near the top and traders will continue waiting for the pair to make a bearish correction to enter long positions near support levels. As long as the pair continue printing a new higher high and higher low then traders will continue to stick with long positions.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD pushed lower from the 0.6500 level and made a bearish close last week. The situation continues bearish and there is no reason for traders to turn bullish yet. If the pair moves upward and close above 0.6500 then there is a chance of bullish correction toward 0.6700 and 0.7000. However, if the pair continues under bearish pressure then traders will expect a new lower low soon.
Today’s critical levels to watch:
Support: 0.6750, 0.6700
Resistance: 0.6820, 0.7000, 0.7160, 0.7300