USDX (USD Index)
The bullish pressure on the U.S dollar index halted near the 110.00 level. The index might consolidate near the level until the announcement of interest-rate by the Fed this week. If the index continues upward then the bullish trend will continue. On the other hand, if the index starts another bearish correction then 107.50 is the bearish target.
EUR/USD
EUR/USD stick near parity level nearing the Fed FOMC meeting this week. We might see major volatility after the release of the U.S interest rate. Will the pair continue lower and print lower low? Alternatively, will the pair start a strong bullish movement and target the 1.0339 resistance level?
Today’s critical levels to watch:
Support: 1.0000
Resistance: 1.0339
GBP/USD
GBP/USD pushed lower and closed below the 1.1450 support level. Despite the situation, no bearish continuation and the pair stick near the level for now. Traders will wait for a further reaction from the support level. A strong bullish movement might indicate a bullish correction toward the 1.2000 – 1.2200 area. On the other hand, a strong bearish movement and a new lower low will indicate a continuation of the bearish trend.
Today’s critical levels to watch:
Support: 1.1450
Resistance: 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY continues hanging near the high and trading sideways. The pair might continue its ranging movement until the Fed announcement. If the pair start moving lower then 139.30 is the support level to watch for a bullish reaction. Traders better avoid short positions in the pair as the trend continue to be bullish.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance:
AUD/USD
AUD/USD is under bearish pressure at the 0.6700 support level. The pair continues its bearish attempt but, no close below the level yet. If the pair could reverse the bearish pressure and make a close above 0.6820 then we might see a new bullish leg toward 0.7000. However, a breakout and close below 0.6700 is a bearish continuation confirmation.
Today’s critical levels to watch:
Support: 0.6750, 0.6700
Resistance: 0.6820, 0.7000, 0.7160, 0.7300