USDX (USD Index)

U.S dollar index closed below 93.00 and might extend its bearish movement toward 92.60 and 92.00. Today, traders and investors will observe the speech by Jerome Powell at Jackson Hole. If there is a dovish sign then the U.S dollar index might continue lower below 92.00 in the long-term.

EUR/USD

EUR/USD pushed lower below 1.1820 but managed to close above the level at the end of the day. The pair currently hanging near the 1.1820 and waiting for further reaction. Today Jerome Powell’s speech might trigger major movement in the pair. We think the direction of the pair will continue pointing to the upside.

today critical levels to watch:

Support: 1.1820, 1.1710, 1.1600, 1.1580

Resistance: 1.2000, 1.2070

GBP/USD

GBP/USD continues its upward movement and closed higher yesterday. The pair getting near the 1.3250 resistance level. If there is no breakout and close above the resistance level then GBP/USD expected to continue consolidation inside 1.3000 – 1.3250.

Today Critical level to watch:

Support: 1.3000, 1.2800

Resistance: 1.3250, 1.3300

USD/JPY

USD/JPY closed lower yesterday, rejected from the level near 106.70. The pair could not print higher high above 107.05 which means there is a chance for bearish continuation. However, the pair currently trading inside a triangle pattern. Traders could take short positions near the 106.00 – 106.70 while monitoring for a bearish breakout below the triangle pattern.

Today critical levels to watch:

Support: 105.00, 101.19

Resistance: 106.00, 106.70, 108.00

AUD/USD

AUD/USD extended its bullish close, distancing itself from the 0.7160 level. The pair set to move upward and target the 0.7330 resistance level. If the pair formed a major bearish pattern at 0.7330 then traders could enter short positions.

Today critical levels to watch:

Support: 0.7160, 0.7000, 0.6820

Resistance: 0.7330