USDX (USD Index)

U.S dollar index surprisingly on the run after the FOMC meeting decide on rate-cut. We have a diverging move, or it might be a normalization after the news before the actual real movement. Nevertheless, we maintain a bearish view on the index and will wait until the upward movement lost momentum. If the index print a new higher swing high on the chart, then it might continue the bullish movement toward 100.00.

EUR/USD

EUR/USD continue moving lower inside the 1.1710 – 1.1820 range. The pair might reach the 1.1710 level and test it soon. Traders will wait for bullish reaction when the test happening. When there is strong bullish reactions, traders could enter long positions targeting new higher swing high. Even though the latest reaction of the pair is bearish after the FOMC meeting, we could say the bullish structure maintained.

Today’s critical levels to watch:

Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300

Resistance: 1.1820

GBP/USD

GBP/USD continue lower toward the 1.3450 level with strong bearish momentum. It will reach the level to test it soon. There is a bullish trend line present near the current level too, where the pair might find support. If the bearish pressure subside and there is strong bullish reversal, then the pair could continue the bullish trend to target 1.3835 and 1.4000. On the lower side, a breakout and close below the 1.3450 level will open the path toward daily SMA 200.

Today’s critical levels to watch:

Support: 1.3450, 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000

Resistance: 1.3600, 1.3800, 1.4000

USD/JPY

USD/JPY back inside the consolidation range which mean the situation is back to neutral. If the latest bearish breakout treated as fake breakout then there is chance of bullish attempt on 150.00 and daily SMA 200. Under current situation, it might be better to wait more confirmation whether the pair will break out above the green box area or below it.

Today’s critical levels to watch:

Support: 145.00, 142.00,

Resistance: 149.20, 150.00, 151.00

AUD/USD

AUD/USD has reached the green box area where we expect a bullish bounce to happen. No reactions yet for now, which mean there is chance of bearish continuation. If the pair could stabilize near the green box area, then there is a chance of bounce and traders could add long positions. On the upside, 0.6780 – 0.6820 will become the target area to watch after breakout from 0.6700 – 0.6750.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6250, 0.6000

Resistance: 0.6700