USDX (USD Index)
U.S dollar index experienced bearish pressure yesterday and closed the day on the bearish side. The index made a bearish continuation today but managed to recover above the opening level. At the current time, the index will attempt to maintain the bullish pressure and close higher. However, if the index starts a bearish correction then traders will wait near 107.50 for a bounce reaction.
EUR/USD
EUR/USD trading upward again with strong momentum today. The pair will try to close the day above the parity level and extend the bullish movement toward the 1.0339 resistance level. Despite the bullish movement, the pair almost return to its opening level. If the pair closes the day near parity then we might see another bearish attempt in the coming week.
Today’s critical levels to watch:
Support:
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD trading slightly upward from the 1.1450 support level. The pair seems will start a bullish correction to target the 1.2000 – 1.2200 area. Traders might want to stay cautious when taking long positions. The pair trend is bearish which means the current upward movement is a chance for traders to enter short positions at a higher level.
Today’s critical levels to watch:
Support: 1.1450
Resistance: 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY start moving lower in today’s trading session with strong bearish momentum. The pair might continue moving bearishly to target the 139.30 support level. If the pair could bounce from the level then traders could add more long positions near the level. In the long-term view, as long as the pair continue printing higher high and higher low, there is no reason to become bearish.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance:
AUD/USD
AUD/USD bounced from the 0.6700 support level and currently trading above the 0.6820 level. The pair will attempt to extend the current upward movement to target 0.7000 and daily SMA 200. Traders will monitor the pair’s reaction near the resistance level. If the pair get rejected with a strong bearish pattern then traders could enter short positions.
Today’s critical levels to watch:
Support: 0.6820, 0.6750, 0.6700
Resistance: 0.7000, 0.7160, 0.7300