USDX (USD Index)

U.S dollar index extended the bullish close and continues moving upward today. There is no bearish sign yet which means the index could continue its upward movement. If the index makes a bearish correction then traders will observe the reaction near the 100.00 handles.

EUR/USD

EUR/USD trading lower and closed below the 1.06500 support level. The pair is on a bearish track and has no bullish reaction yet. If the pair start a bullish correction then traders will wait near 1.0800, 1.0900, and 1.1000 for a chance to enter short positions. A bullish correction is due but traders better avoid long positions.

Today’s critical levels to watch:

Support: 1.0650

Resistance: 1.0800, 1.0900

GBP/USD

GBP/USD closed below the 1.2625 with strong bearish momentum. The pair has not shown any bullish reaction since the fallout from the 1.3000 level. Similar to EUR/USD, traders will wait for a bullish correction to enter short positions near resistance levels.

Today Critical level to watch:

Support: 1.2625

Resistance: 1.3000, 1.3125, 1.3250

USD/JPY

USD/JPY made a bearish close yesterday but no follow-through in today’s trading session. The pair moving upward instead of moving down and we might see a bullish continuation to target a new higher high. If the pair start a bearish correction then traders will observe the pair reaction near the 125.00 support level.

Today’s critical levels to watch:

Support: 126.00, 125.00, 120.00

Resistance: 130.00

AUD/USD

AUD/USD pushed lower and closed below the 0.7160 support level. It seems the bearish trend of AUD/USD will continue and 0.7000 is the next bearish target. On the upside, traders could use the daily SMA 200 as level to enter short positions when a bullish correction happens.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330