USDX (USD Index)

U.S dollar index reversed its bearish pressure on the last day of the previous year. The index closed higher but below the 90.00 level. Traders might expect further bullish attempt from the current level. If a bullish correction happens then 92.00 – 93.00 will become the target area.

EUR/USD

EUR/USD rejected from the 1.2300 resistance level, the pair closed near 1.2200 at the end of the previous year. If the pair continues its bearish movement then traders will prepare for a pullback toward the 1.2000 – 1.2070 area. At the current time, it is better to wait for a reaction from the 1.2200 level.

today critical levels to watch:

Support: 1.2200, 1.2070, 1.2000

Resistance: 1.2300, 1.2500

GBP/USD

We have a close above the 1.3600 resistance level as UK and EU reach a deal on Brexit. GBP/USD might extend its bullish pressure toward 1.3835 and 1.40000 next. If a bearish pullback happens then traders could observe the reaction at 1.3450 and 1.3600.

Today Critical level to watch:

Support: 1.3600, 1.3450

Resistance: 1.3835, 1.4000

USD/JPY

USD/JPY is in a bearish trend inside the bearish channel. The pushed lower but no lower low printed yet. At the beginning of this year, traders will observe the pair movement. If no lower low printed and the pair started a bullish correction then traders could use the top of the bearish channel as a place to enter short positions.

Today critical levels to watch:

Support: 101.50, 101.19

Resistance: 104.00, 105.00, 106.00, 106.70

AUD/USD

AUD/USD punched through the top of the bullish channel. The pair managed to reach the level near 0.7750 before it reversed and closed at 0.7700. If the pair continues its bullish movement then traders will target 0.8000 in the long-term. On the other hand, if a bearish correction happens then traders will use the channel range to enter long positions.

Today critical levels to watch:

Support: 0.7640, 0.7600, 0.7550, 0.7500

Resistance: 0.7700, 0.7750