USDX (USD Index)
U.S dollar index pressed lower yesterday and closed near 99.40 support level. The index currently sticks near the level and might breakout lower. However, traders might want to wait until the actual breakout below 99.40 happens before deciding the next direction of the index.
Without a major close below 99.40, the U.S dollar index might bounce and move higher again.
News to watch
07.30 AM ECB Press Conference
U.S Unemployment Claims, forecast 3500k
For full outlook for this week, you can follow Forex Outlook For The Week April 27 – May 01, 2020
EUR/USD
EUR/USD has not left the 1.0800 – 1.0900 range yet. The pair managed to close higher and near 1.0900 resistance level. If the pair could continue higher and close above 1.0900 then traders will expect further bullish movement toward 1.1000 and SMA 200.
today critical levels to watch:
Support: 1.0800, 1.0650
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD extends it’s bullish close and stick near the horizontal resistance level shown on the chart. The pair may continue upward and target the SMA 200 and 1.2625 resistance level. At the current time, traders who have no positions could continue waiting for further reaction near the resistance level.
Today Critical level to watch:
Support: 1.2200, 1.2000
Resistance: 1.2500, 1.2625
USD/JPY
USD/JPY is under pressure but maintain the close near 106.70 support level. Yesterday the pair fell below 106.70 with strong momentum but ended the day near the level. Today, there is no bearish follow-through yet. The pair might consolidate near 106.70 for now while waiting for a reaction.
Today critical levels to watch:
Support: 106.70, 105.00
Resistance: 108.00, 109.00
AUD/USD
AUD/USD decide to continue its bullish movement and closed above 0.6500 with a strong bullish candlestick. We think the pair could extend its bullish movement and target the daily SMA 200 and 0.6700. If the pair corrected lower toward 0.6500 then traders could look for long positions when there are bullish reactions.
Today critical levels to watch:
Support: 0.6500, 0.6300
Resistance: 0.6700