USDX (USD Index)
The bearish correction of the U.S dollar index brought the index down to reach the 110.00 support level. The bearish target has been reached and traders will wait for a bullish reaction. If the index could bounce and print major bullish reactions then the bullish trend is set to continue. On the other hand, a close below 110.00 will confirm a deeper bearish correction.
EUR/USD
EUR/USD reached the parity level and currently moving upward above it. The bullish pressure has not subsided and the pair will attempt to close the day above the parity level. If the pair could close above the level then we might see a continuation toward the 1.0339 resistance level. On the other hand, if the pair reverse the bullish pressure and close below the parity level then we might see a bearish continuation.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD building bullish pressure and breakout above the 1.1450 resistance level. The pair will attempt to maintain the bullish pressure and close above 1.1450. A close above 1.1450 will confirm a bullish continuation toward the 1.2000 – 1.2200 area. On the other hand, a bearish close below 1.1450 might confirm a bearish continuation.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY starts to move lower and undergo bearish correction. The pair will target the nearest support level at 145.00 where traders could consider entering long positions when there is a major bullish reaction. Traders who enter short positions will place a stop above the previous swing high and target 145.00 then the 139.30 – 140.00 area.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD extend the bullish movement and reached the 0.6500 resistance level today. The pair will keep building more bullish pressure and continue moving upward to target 0.6700 next. Traders will monitor the pair reaction at 0.6500 and 0.6700 for chance to enter short positions when bearish reversal happen.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000