USDX (USD Index)
U.S dollar index printed another bullish close yesterday just before today’s FOMC meeting. The Fed expected to announce more aggressive tapering and possibly earlier interest-rate hike next year. At the current time, the index might continue the bullish movement to target 97.50 and 100.00. On the flip side, if the index is corrected lower, then 94.00 – 94.30 is the area to watch.
EUR/USD
EUR/USD pushed lower below 1.1300 but maintain the level near the 1.1300 – 1.1360 area. No major confirmation yet on the pair’s next direction. After today’s FOMC meeting, the pair might climb above 1.1360 or continue the bearish movement to target 1.1000.
If the pair closes above 1.1360 then there is a chance of bullish correction toward 1.1500.
Today critical levels to watch:
Support: 1.1185, 1.1120, 1.1000
Resistance: 1.1300, 1.1360, 1.1500
GBP/USD
GBP/USD currently trading near the 1.3250 level and is expected to continue trading sideways near it until the Fed announcement today. If the pair could close above 1.3250 then the bullish correction could continue toward 1.3450. On the downside, bearish continuation could bring the pair down to test 1.3000.
Today Critical level to watch:
Support: 1.3000
Resistance: 1.3250, 1.3300, 1.3330, 1.3450
USD/JPY
USD/JPY made bullish close yesterday but mostly sideway. The pair could continue upward to retest 114.50 or move lower to target 112.00. If the pair start moving lower and test 112.00 then traders could consider long positions when there is a major bullish reaction from the level.
Today critical levels to watch:
Support: 113.00, 112.00
Resistance: 114.50, 115.00, 115.90
AUD/USD
AUD/USD could not breakout and close above 0.7160. The pair closed lower yesterday but no bearish follow-through today. Today’s trading session might become a vital moment for the pair. If the pair could close above 0.7160 then we might see a bullish continuation toward 0.7300 – 0.7330. On the other hand, if the bearish pressure continues build-up then a retest on 0.7000 will happen.
Today critical levels to watch:
Support: 0.7000
Resistance: 0.7160, 0.7300, 0.7330