USDX (USD Index)
The bullish pressure of the U.S dollar index managed to print a higher high yesterday. However, the index relinquished all of its gains and closed near the opening level. We think the index bullish pressure will continue toward 95.00. Currently, the index might consolidate between 94.00 – 94.30 while waiting for the trigger to continue its bullish movement.
EUR/USD
EUR/USD made a bullish close yesterday, avoided further bearish movement toward 1.1580. The pair might attempt to move higher and test the 1.1710 resistance level. When the pair testing the 1.1710 resistance level, traders could consider entering a short position on bearish reactions.
today critical levels to watch:
Support: 1.1600, 1.1580
Resistance: 1.1710, 1.1820, 1.2000
GBP/USD
GBP/USD stick near the daily SMA 200, providing traders with a neutral outlook. Similar to the previous day analysis, if the pair continues its downward movement then the red trendline and 1.2625 will become support levels to watch. At the current time, it is better to hold short positions or waiting sideline.
Today Critical level to watch:
Support: 1.2625
Resistance: 1.2800, 1.3000, 1.3050
USD/JPY
USD/JPY made a neutral close yesterday inside the Wednesday range. The pair might attempt to continue moving further upward. If the pair could close above 106.70 then the trend might change, especially if the pair could close above daily SMA 200.
Meanwhile, if the pair move lower below 105.00 and close below July’s low then traders will expect a continuation toward 101.50
Today critical levels to watch:
Support: 105.00, 101.50, 101.19
Resistance: 106.0, 106.70
AUD/USD
AUD/USD overall trend continues bearish as the pair made fifth consecutive bearish close. The pair almost reached the 0.7000 support level yesterday. The 0.7000 and 0.6820 support level are major levels which could reverse the current bearish movement.
If there is a bullish reaction from the support levels then traders could enter long positions with 0.7160 as the initial target.
Today critical levels to watch:
Support: 0.7000
Resistance: 0.7160, 0.7300, 0.7330