USDX (USD Index)
U.S dollar index stay bullish for now but no upward continuation and new higher swing high. The index situation might depend on next week FOMC meeting. If there is no new higher swing high, and the index turn lower from the current level, then the bearish trend will continue. We maintain bearish view on the index as long as it stay below 100.00.
EUR/USD
EUR/USD continue consolidating between 1.1580 – 1.1710 area for now. A breakout and close outside the area will confirm the pair next direction. Under current situation, traders could continue hold long positions or use the 1.1580 level to add more positions. On the lower side, traders could place stop level below 1.1390.
Today’s critical levels to watch:
Support: 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1710, 1.1820
GBP/USD
GBP/USD under bearish pressure and currently trading near the 1.3330 level. The pair will might bounce from the level and continue consolidating between daily SMA 200 & 1.3450. Traders who has long positions will place stop order below 1.3125. A close above 1.3600 will confirm the continuation of bullish trend.
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 extended the bullish movement and getting near to test the previous swing high. The bounce from 150.00 continue gaining without major bearish reactions. The pair is set to print new higher swing high and traders will continue hold long positions for now. Traders who has long positions will place stop order below the latest swing low or 149.39.
Today’s critical levels to watch:
Support: 151.00, 150.00, 149.20, 145.00, 142.00,
Resistance: 153.00
AUD/USD
AUD/USD situation has not changed yet as it stick near the 0.6500 level. The pair might continue the consolidation for now and eventually continue lower to test daily SMA 200 or immediately resume the bullish trend above the green box area. Under current situation, it is better to prepare for sweep or fake out and continuation to real direction. The Fed’s FOMC meeting next week might provide better clue.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700