USDX (USD Index)
U.S dollar index made a bullish close yesterday and there is weak bullish attempt today. Traders are looking ahead to the government shutdown update and inflation data this week. If the index continues to weaken and form a new lower swing low, then the bearish trend could continue. On the upside, a close above 100.00 and daily SMA 200 will cancel the bearish outlook.
EUR/USD
EUR/USD get rejected from the 1.1710 resistance level and looks moving lower again. At the current time, if the pair move lower with strong momentum then there is chance of it to reach 1.1500. We maintain bullish outlook on the pair and will wait until the FOMC meeting this month to get better confirmation.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD stuck near the 1.3450 level and might consolidate near the level for now. On the upside, a close above 1.3600 might confirm the continuation of bullish trend. On the lower side, a close below 1.3250 and daily SMA 200 might confirm a bearish continuation. For now, we think the pair won’t return to the 1.3250 and daily SMA 200 again and will extend the bullish movement immediately above 1.3600.
Today’s critical levels to watch:
Support: 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000
Resistance: 1.3450, 1.3600, 1.3800, 1.4000
USD/JPY
USD/JPY printed a bullish pin bar after tested the 150.00 level. It is a perfect bounce for now, and there is bullish follow-through. However, the upward movement lost momentum and might close the day near the opening level. If the pair could not maintain the bullish pressure, then there is the chance of another bearish attempt to target a gap close.
Today’s critical levels to watch:
Support: 150.00, 149.20, 145.00, 142.00,
Resistance: 151.00, 153.00
AUD/USD
AUD/USD might be trading below 0.6500 for few chances, but it continues to maintain the position near 0.6500. The pair might continue the consolidation near 0.6500 and traders will continue to monitor the reactions. If there is another bearish attempt and the pair managed to close below daily SMA 200 also print new lower swing low, then the trend might turn bearish.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700