USDX (USD Index)
U.S dollar index extend the climb and print new higher swing high. It seems the index now will continue the upward movement to target the 100.00 level. Traders might want to wait for further confirmation of bearish reversal for now. If there is strong bearish rejection without new higher swing high, then it is the time for traders to add short positions in U.S dollar.
EUR/USD
EUR/USD continue the downward movement and is set to target the 1.1580 support level. As we mentioned before, the bull need to maintain the position and avoid printing new lower swing low to confirm the bullish continuation. A fake bearish breakout below 1.1580 might be the best scenario to expect.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD fall below the previous day’s low, but slowly recovering. The pair might extend the bearish movement to target 1.3250 and the daily SMA 200. Under current situation, traders will let the pair move lower, reach support level and bounce upward strongly. When there is bounce reaction near support level, it is the time to add more long positions.
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 is unstoppable after the return above 150.00. The pair has not lost its bullish momentum, which mean better to avoid shorting. It is time to stay sideline until a swing high formed and the pair start moving lower. If the pair turn lower, then the green box area will become the support level to watch.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD bounce at 50% Fibonacci Retracement level and trading back above the opening level. As we mentioned before, traders could continue to use the green box area as a place to add long positions with stop order below 0.6500. A close below 0.6500 might become the confirmation that the trend has changed to bearish.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700