USDX (USD Index)

U.S dollar index closed above 97.50 and maintained the level above it the entire week. Despite the bullish close, the index still under bearish pressure and might breakout below the support level. This week, traders will monitor the index movement and jump in long positions whenever there is a strong bullish reaction.

EUR/USD

EUR/USD return above 1.1185 before the weekly close. The pair looks will attempt to continue further upside this week to test the trendline. At the current time, EUR/USD expected to range between 1.1185 and the trendline with a bullish bias.

today critical levels to watch:

Support: 1.1185, 1.1120, 1.1100

Resistance: 1.1200, 1.1280

GBP/USD

GBP/USD closed below 1.2100 and not far from 1.2000. The pair has a more potential downside but it will depend on the market reactions at 1.2000. Will we see further breakout below 1.2000 this week?

If there is no breakout below 1.2000 then GBP/USD expected to range between 1.2000 – 1.2100.

Today Critical level to watch:

Support: 1.2000

Resistance: 1.2100, 1.2300, 1.2400

USD/JPY

USD/JPY direction is down and no change to the situation yet. The pair currently drifted lower and will target 105.00 and 104.67. As long as there is no close above 106.10 then USD/JPY will continue its bearish movement.

Today critical levels to watch:

Support: 105.00, 104.67

Resistance: 106.10, 106.70

AUD/USD

AUD/USD bounced from the bottom of the channel on its daily chart. It could be major bullish reversal as the pair confirmed the breakout above pin bar pattern. However, the pair still need to print higher closing level on the daily chart to ensure the bullish correction will continue. Long positions still a risky option but might provide a better risk-reward ratio if successful.

Today critical levels to watch:

Support: 0.6700

Resistance: 0.6800, 0.6900