USDX (USD Index)

U.S dollar index made bearish reaction after the Fed FOMC meeting. However, the index immediately overturn the bearish pressure and made bullish close yesterday. There is a bullish continuation today which currently testing the previous month’s high. We expect the index will continue the bullish movement toward the 95.00 resistance level.

EUR/USD

EUR/USD made bearish close below 1.1580 and set to continue the bearish movement toward 1.1500 support level. The pair is currently under bearish pressure and testing the previous day’s low. The same as mentioned before, traders will avoid long positions and wait for a bullish correction to add more short positions.

Today critical levels to watch:

Support: 1.1500, 1.1360

Resistance: 1.1580, 1.1710, 1.1820, 1.2000, 1.2070

GBP/USD

GBP/USD closed below 1.3600 support level with major bearish momentum. The pair continue the bearish movement and reach the 1.3450 support level today. Another bearish close below 1.3600 is long-term bearish confirmation and traders will wait for a bullish correction to enter short positions.

Today Critical level to watch:

Support: 1.3450

Resistance: 1.3600, 1.3835, 1.4000

USD/JPY

USD/JPY trading near the 114.50 resistance level without any major reaction. The pair seems will continue ranging near the level and waiting for further reaction. If the pair start moving lower then it might target 112.00 where traders could enter long positions. On the upside, 115.00 is the target when the pair start moving upward.

Today critical levels to watch:

Support: 113.00, 112.00

Resistance: 114.50, 115.00

AUD/USD

AUD/USD made another bearish close below the orange box area yesterday. The pair extended the bearish movement today below the previous day’s low. It is set to target the 0.7300 – 0.7330 area and traders will observe the reaction there. If the pair could maintain the position and bounce from the area then there is a chance for another bullish attempt on daily SMA 200.

Today critical levels to watch:

Support: 0.7450, 0.7330, 0.7300

Resistance: 0.7500, 0.7550