USDX (USD Index)
The situation of the U.S dollar index is bullish after the bounce from the level near 110.00. The index printed two bullish closes on the daily chart and there is a bullish continuation today. As long as the index continues to print a new higher high and higher low, there is no reason to turn bearish yet.
U.S job data show stronger than expected results which means there are reasons for the Fed to raise interest-rate further which means the situation is dollar positive.
EUR/USD
EUR/USD rejection from the parity level gaining more bearish momentum. The pair is set to continue the bearish trend and target 0.9500 also a lower level. Traders will continue to stick with a bearish scenario and avoid taking long positions as long as the pair continue printing a new lower low and lower high.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD got rejected from the 1.1450 resistance level and the pair extended the bearish movement yesterday. The pair will continue the bearish trend and target 1.0500 also the parity level. Traders will continue to stick with the bearish position for now until the pair make a higher low and higher high on the chart.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY situation has not changed yet as the pair continue trading sideways near the high. Traders will continue waiting patiently for the pair to make a movement with high momentum to confirm the next direction. If the pair start a bearish correction then traders could wait near support levels for a chance to enter long positions.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD trading lower below the 0.6500 support level and currently at the bottom of the weekly range. If the pair print a new lower low on the chart then the pair will continue the bearish trend. On the other hand, if the pair could climb and close above 0.6500 then there is the chance of a bullish reversal.
Today’s critical levels to watch:
Support: 0.6750, 0.6700
Resistance: 0.6820, 0.7000, 0.7160, 0.7300