USDX (USD Index)
U.S dollar index experienced bearish pressure today toward the 100.00 handles. However, the index looks making recovery after the release of NFP data which is below estimate. High volatility movement happening right now which is the opposite of the news result. It seems traders are selling the rumor and buying the news. At the current time, the index is trading above the opening level and there is a chance of further bullish movement before the market closes.
EUR/USD
EUR/USD building bullish pressure above the 1.1120 resistance level today but the upward movement has reversed. At the current time, the pair is trading below the opening level and might extend the bearish movement to target the 1.1000 support level. Not much change to the situation, if the pair resumes the bearish movement then traders will wait near the support level for bullish reactions and a chance to enter long positions.
Today’s critical levels to watch:
Support: 1.1000, 1.0900, 1.0800
Resistance: 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD made a bullish attempt toward the 1.3250 resistance level today but the pair relinquished most of its gain and currently trading near the opening level. We might see the pair continue consolidating between 1.3125 and 1.3250 for now. It seems traders are still not convinced to bring the pair further upward as we are in “Rektember”. A bearish pressure might occur after this month’s FOMC meeting which might put traders at high caution right now. For safer options, traders could wait until the FOMC meeting to place major positions. Otherwise, just speculate and wait for more confirmation after the news release.
Today’s critical levels to watch:
Support: 1.3125, 1.3050, 1.3000
Resistance: 1.3250
USD/JPY
USD/JPY pushed lower but managed to recover all of the losses today. The pair is trading near the opening level and might stay near it until the market closes. If the pair continues the bullish movement then it will target the 0.8500 – 0.8530 area to test it. Traders could wait near the resistance level for bearish reactions. When there are bearish reactions, traders could enter short positions targeting a new lower swing low on the chart.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00, 155.00
AUD/USD
AUD/USD made a bullish breakout attempt above the 0.6750 level but the pair lost the bullish pressure and currently trading below the opening level. It seems the consolidation between 0.6700 – 0.6750 will continue and traders will observe the pair movement for now. As mentioned before, traders will wait for a close outside of the range to confirm the next direction of movement.
Today’s critical levels to watch:
Support: 0.6700, 0.6500
Resistance: 0.6750, 0.6820, 0.7000