USDX (USD Index)
U.S dollar index moving upward and almost print a new higher swing high. If the index continues the bullish movement, then there is chance of it to reach the 100.00 level for retest. It seems government shutdown in U.S. causing more bearish sentiment as it extended for the second week. Despite the situation, we still expect the index to resume the bearish trend and target a new lower swing low.
EUR/USD
EUR/USD fall below 1.1710 with moderate bearish momentum. It might continue the downward movement to target the 1.1580 level. Under current situation, traders will wait sideline near the 1.1580. When the pair reach the level and form strong bullish reactions, traders could enter long positions.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD under bearish pressure and fall below 1.3450 level today. If the pair resume the bearish movement, then we will have a valid rejection from the trend line. On the lower side, the 1.3250 and daily SMA 200 will become the bearish target to watch. A close below both level might end the current bullish trend. On the upside, a close above 1.3600 might confirm the bullish continuation.
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 turned the table and climb above the green box area. All bearish scenario cancelled for now as the pair move upward with strong momentum and has reached the invalidation level. If the pair could maintain the bullish pressure until the end of week, then the bullish trend will continue. 150.00 will turn into major support level when there is bearish correction.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD back under bearish pressure into the green box area. Another retest on the box area will happen and traders will wait near the bottom of the box area. When there is strong bullish reactions near the bottom of box area, traders could enter long positions with stop order below 0.6500.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700