USDX (USD Index)
U.S dollar index’s bullish trend has not broken yet as the index continues to maintain the bullish pressure. No major bearish correction happens after the latest downward movement. If the index continues moving upward then it will test the 115.00 level and the previous swing high. Traders will continue to maintain a bullish outlook and avoid shorting the U.S dollar.
EUR/USD
EUR/USD trading lower after two bullish closes, the pair might resume the bearish trend to target 0.9500 and lower. However, no lower low or higher high printed yet which mean the pair is trading sideway right now. The next higher high or lower low will become the confirmation for the next medium-long-term direction.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD could not break out above the 1.1450 resistance level yet. The pair currently trading lower and might resume the bearish trend. Traders will observe the pair reactions near the current level. If the pair moves lower and print a new swing low then the pair will target 1.0500 and the parity level.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY almost reach the 150.00 resistance level but not showing any bearish sign. There is no change to the situation yet but a bearish reaction might happen near the level. If the pair shows a bearish reaction then a bearish correction will happen and traders could wait near the support level for a chance to enter long positions.
The only reason to turn bearish on USD/JPY is when the Fed start sounding dovish or BOJ starts increasing interest rate.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD continues under bearish pressure and currently trading sideways. The pair might continue consolidation near the current level for now. If the pair starts moving upward then traders will wait near the resistance level for a chance to enter short positions. On the lower side, 0.6000 is the support level to watch.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000