USDX (USD Index)
U.S dollar index on the way upward, and it seems will continue to target the 100.00 level retest. Under current situation, traders will let the index continue the upward movement and wait near resistance level. When there is strong bearish reactions, traders could enter short positions again in U.S. dollar.
EUR/USD
EUR/USD got rejected at the 1.1820 resistance level and looks will move lower to test 1.1710. The range 1.1710 – 1.1820 still intact, but a bearish breakout could bring the pair down to target 1.1580. Technically, a close below 1.1580 might become the confirmation that the trend has turned bearish. For now, we maintain a bullish outlook and will use each bearish correction as a chance to add long positions.
Today’s critical levels to watch:
Support: 1.1710, 1.1580, 1.1500, 1.1360, 1.1300
Resistance: 1.1820
GBP/USD
GBP/USD back under pressure and currently trading near the 1.3450 level and the trend line. If the pair breakout below the level, then we could expect continuation toward daily SMA 200 and 1.3250 level. Something to note, no breakout from the 1.3450 – 1.3600 range yet, which mean the pair could reverse anytime and maintain the range.
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 printed new higher high and surpass the daily SMA 200. It seems the pair will continue the bullish movement and test the 150.00 level soon. On the upside, if the pair could break out and close above the green box area, then the trend will turn bullish. It is up to the bear now to protect the 150.00 level. A closure above the level will print a new higher swing high or breaking the two months range.
Today’s critical levels to watch:
Support: 145.00, 142.00,
Resistance: 149.20, 150.00, 151.00
AUD/USD
AUD/USD stick near the green box area and now under bearish pressure. The pair might extend the downward movement and test the bottom of the green box area. We maintain bullish outlook in the pair and will wait for bullish reactions. When there is strong bullish reactions inside the box area, traders could add long positions.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6250, 0.6000
Resistance: 0.6700