USDX (USD Index)
The movement of the U.S dollar index was mostly sideways near the high. The index currently experiences bearish pressure but maintains its position inside the previous day’s range. Traders will continue to monitor the index reactions at the current level. If the index continues moving lower then traders will expect it to target the 110.00 support level. On the other hand, upward movement from the current level will need to print a new higher high to continue the bullish trend.
EUR/USD
EUR/USD trading below the parity level and could not climb above it. At the current time, the pair looks moving upward but inside yesterday’s range. As long as the pair stays below parity, there is no reason to become bullish yet. On the lower side, 0.9500 is the bearish target to watch when a bearish continuation happens.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD trading near the 1.1450 level and might continue consolidating near it. Traders will continue to monitor the pair reactions from the resistance level. If the pair get rejected and form major bearish reactions then traders could enter short positions. On the other hand, a major bullish breakout followed by a new higher high is a bullish confirmation.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY has reached the 150.00 resistance level and not showing any bearish reactions. There are nothing traders will do aside from continuing to hold long positions. As long as the pair continues moving upward and there is no change to the BOJ policy then nothing will change yet. Traders will continue to monitor the key events by central banks for clues on bearish reversal.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD looks moving upward and will attempt to surpass the previous week’s high. If the pair could extend the bullish movement then 0.6500 and 0.6700 are the bullish targets to watch. On the other hand, a bearish continuation from the current level has 0.6000 as the bearish target.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000