USDX (USD Index)
U.S dollar index managed to closed above 97.50 at the end of the previous week. The close above 97.50 is a sign that the index will continue its upward movement and target 98.40, daily SMA 200. However, the bullish sentiment immediately reversed today with a movement below Friday low. If the index continues lower then it might test 96.70 support level or lower.
EUR/USD
EUR/USD closed below 1.1185 on Friday but today the pair bounced from the level and currently traded above the Friday high. If the pair could close above the Friday high then traders will expect further bullish continuation toward 1.1300 – 1.1360 area.
At the current time, traders will wait for the closing of the day.
today critical levels to watch:
Support: 1.1185, 1.1120
Resistance: 1.1300, 1.1360, 1.1500
GBP/USD
GBP/USD bearish pressure does not continue today as the pair currently testing Friday high. If the pair could make bullish close above Friday high then traders will expect the further upward movement to test daily SMA 200 and 1.2625. Currently, the pair movement span between 1.2000 – 1.2625.
Today Critical level to watch:
Support: 1.2200, 1.2000
Resistance: 1.2500, 1.2625
USD/JPY
Not much change yet in USD/JPY projection as the pair continue to stick near 106.70 support level. As long as there is no breakout and close below 106.70, USD/JPY still has a chance to move higher and retest 108.00. Traders will continue waiting for further reaction.
Today critical levels to watch:
Support: 106.70, 105.00
Resistance: 108.00, 109.00, 110.00
AUD/USD
AUD/USD closed below 0.6820 in the Friday trading session. The pair seems will continue its bearish movement. We have a bearish opening today but the pair immediately reverses the bearish pressure and currently testing the Friday high. If the pair could close above Friday high then it will form a bullish engulfing pattern which might extend the bullish movement toward 0.7000 – 0.7160.
Today critical levels to watch:
Support: 0.6820, 0.6750, 0.6700
Resistance: 0.7000, 0.7160