USDX (USD Index)

The bearish pressure on the U.S dollathe r index continues as traders and investors get more optimistic about the economic reopening. It is only an initial reaction that could change anytime. The economy reopening is positive but a resurgence of coronavirus case is the thing that could reverse the market.

At the current time, the U.S dollar index has printed a lower low but manage to recover near its opening level. Will the index return above daily SMA 200 by the end of the week?

EUR/USD

EUR/USD extends its bullish movement and currently testing the 1.1120 resistance level. The pair printed higher high in today trading session but losing a lot of ground. At the current time, the pair is trading near its opening level. Will the pair maintain the bullish pressure and close above 1.1120 by the end of the day?

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120, 1.1185

GBP/USD

GBP/USD bullish bounce from the 1.2200 support level continues. The pair is making more higher high on the chart. Without any major change in the sentiment, we think the pair could continue moving upward and reach the 1.2625 resistance level.

Today Critical level to watch:

Support: 1.2200, 1.2100, 1.2000

Resistance: 1.2500, 1.2625

USD/JPY

USD/JPY dropped sharply on the Friday trading session but closed higher at the end of the day. The pair continues its consolidation near the 108.00 and daily SMA 200. No change to the outlook yet but it seems the pair might trigger bullish breakout soon.

It is better to continue to wait and see until major patterns formed.

Today critical levels to watch:

Support: 106.70, 105.00

Resistance: 108.00, 109.00

AUD/USD

AUD/USD breakout above daily SMA 200 and reach the 0.6700 – 0.6750 resistance level today. Our bullish target already completed now but the pair has not shown any weakness. As long as the pair could maintain its bullish pressure then it could continue further to target 0.7000.

Traders will observe the daily closing level and this week’s closing level. A weekly close below the 0.6700 might be the indication to enter short positions.

Today critical levels to watch:

Support: 0.6500, 0.6300

Resistance: 0.6700, 0.6750