USDX (USD Index)
The upward movement of the U.S. dollar index continues today, and the index is getting near the 103.50 and daily SMA 200 levels. As mentioned before, traders will wait near resistance levels for bearish reactions. When there are bearish reactions, traders could enter short positions. Assuming that the bearish trend will continue, traders better avoid taking long positions until the bearish structure breaks.
EUR/USD
EUR/USD pushed lower and reached the 1.0900 level again. The pair might attempt to extend the bearish movement to test the daily SMA 200. If the pair could maintain positions above the levels and form bullish reactions, traders could enter long positions. The pair is at a crucial level and major bullish reactions might confirm the continuation of the bullish trend.
Today’s critical levels to watch:
Support: 1.0900, 1.0800
Resistance: 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD sticks near the 1.3050 level with some bearish pressure below it. The pair continue to maintain its position near the support level for now. If the pair could bounce upward with strong bullish momentum then the bullish trend might continue. On the other hand, a bearish breakout below 1.3000 might confirm a bearish continuation toward the daily SMA 200.
Today’s critical levels to watch:
Support: 1.3050, 1.3000
Resistance: 1.3250, 1.3300, 1.3450
USD/JPY
USD/JPY reached the 150.00 resistance level today where it will test the level. The pair might attempt to extend the bullish movement toward the daily SMA 200 before major bearish reactions. When the pair forms a major bearish reaction near the 150.00 or the daily SMA 200, traders could enter short positions targeting a new lower swing low.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00, 155.00
AUD/USD
AUD/USD is consolidating inside the 0.6700 – 0.6750 area. The pair could either continue the bearish movement toward the daily SMA 200 or resume the bullish trend to target a new higher swing high. At the current time, traders will wait for breakout and close outside of the area to confirm the next direction of the pair.
Today’s critical levels to watch:
Support: 0.6700, 0.6500
Resistance: 0.6750, 0.6820, 0.7000