USDX (USD Index)
U.S dollar index is trading above the 110.00 support level and currently stabilize before the Fed interest-rate decision. Will the index continue the bullish movement toward printing a new higher high? Alternatively, will it break out and close below 110.00 to continue the bearish correction toward 107.50?
EUR/USD
EUR/USD is slightly lower than the parity level. the pair will continue to consolidate near the current level until the Fed interest-rate decision. If the pair could move upward and close above the parity level then there is a chance of bullish continuation toward the 1.0339 resistance level. On the other hand, further weakness from the current level will bring the pair down to target a new lower low.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD sticks near the 1.1450 level without major reactions yet. The pair will wait for reactions after the Fed interest-rate announcement. On the upside, 1.2000 – 1.2200 is the area to watch when a bullish bounce happens. A close below 1.1450 will become a bearish continuation confirmation.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY turn lower before it could reach the 150.00 resistance level. The pair will continue the movement between 145.00 – 150.00 and wait for a breakout from the range. Traders will continue to apply range trading strategies until an actual breakout and close outside of the range happen.
Today’s critical levels to watch:
Support: 145.00, 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD failed to print a bullish close yesterday but the pair avoided further weakness. At the current time, the pair might consolidate and trade sideway near the current level. If the pair continues the bullish movement then it will target the 0.6700 resistance level. However, further weakness from the current level could bring the pair down to print a new lower low.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000