USDX (USD Index)
U.S dollar index continue its advance initially, but it has reversed and currently move below the opening level. The index might range near the current level or below the 100.00 level just before the next week FOMC meeting. Where will the index move next? Most probable is down when the Fed decide to cut interest-rate and maintain dovish outlook. If a rate-cut happen, but the Fed keep the tight policies, then the index might stay near the 100.00 level.
EUR/USD
EUR/USD looks consolidating between 1.1580 – 1.1710 and might break out from the range after next week FOMC meeting. Traders could wait until the news and the pair reactions before deciding on the next trade. We maintain bullish outlook and 1.1500 – 1.1580 is the buy area for now. On the lower side, the swing low 1.1400 is the major support level to watch.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD tested the 1.3300 – 1.3330 area and show bounce reaction. The pair might bounce and move upward to test the 1.3450 level again. Under current situation, the pair might continue ranging between 1.3250 – 1.3450 until next week FOMC meeting. We maintain bullish outlook for now and will continue to accumulate long positions near the support level with stop level below 1.3125.
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 turned upward again and might extend the bullish trend to new swing high. There is no continuation yet today, but traders could expect more upward movement soon. On the lower side, if another bearish attempt made, then the 150.00 is the key level to watch. We don’t expect the pair to move lower below it, as it might cancel the current bullish view.
Today’s critical levels to watch:
Support: 150.00, 149.20, 145.00, 142.00,
Resistance: 151.00, 153.00
AUD/USD
AUD/USD keep consolidating near the 0.6500 level and the range seems to tighten. Nothing much to expect for now in the pair. It might continue sideways and eventually breakout with strong momentum. Traders will wait until the pair make breakout from the range to confirm the next direction.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700