USDX (USD Index)
The U.S dollar index made another test on 99.40 resistance but at the end of the day, the index closed lower. It has not moved much today and might make another attempt at 99.40 resistance again. This week U.S job data might give some clue on the index next direction.
News to watch
10.00 AM U.S ISM Non-Manufacturing PMI, forecast 55.1
For full outlook for this week, you can follow Forex Outlook For The Week September 30 – October 4, 2019
EUR/USD
EUR/USD extended its bounce from the channel. The pair might target 1.1000 resistance and the trendline before resume its bearish trend. At the current time, traders will wait until the pair reach both resistances and enter short positions when there is a bearish reaction.
today critical levels to watch:
Support: 1.0900, 1.0800
Resistance: 1.1000, 1.1120
GBP/USD
The pair made another bearish attempt yesterday but it could not close lower. We have two candlesticks with long tails now. GBP/USD might test the top of the channel and breakout above it. However, the current trend suggests for further bearish movement. Traders will be careful and observe the pair reaction at the top of the channel before taking positions.
Today Critical level to watch:
Support: 1.2200, 1.2000
Resistance: 1.2300, 1.2400, 1.2500, 1.2600
USD/JPY
USD/JPY under pressure and closed near 107.00 support level yesterday. The pair is at the risk of further bearish pressure below 107.00. We might get a clue in the next direction of USD/JPY after this week’s job data. Meanwhile, the pair might consolidate near the support level.
Today critical levels to watch:
Support: 107.00
Resistance: 107.40, 109.00
AUD/USD
No change yet in the AUD/USD situation where the pair breakout from the blue box area. It is expected to continue its bearish trend toward the bottom of the channel. At the current time, traders could continue to hold short positions and add more positions when there is bullish correction toward the blue box area.
Today critical levels to watch:
Support: 0.6700
Resistance: 0.6800, 0.6900