USDX (USD Index)

U.S dollar index currently moving inside the blue box area and expected to continue its bullish movement. A “W” pattern has been formed and the index needs bullish confirmation above the blue box area to extend the upward movement toward 92.00 – 93.00.

As long as the index continues limited below the blue box area then traders will continue to be cautious.

EUR/USD

EUR/USD bounced from 1.2070 and currently trading in the middle of 1.2070 – 1.2200. The pair might continue trading sideways for now. As long as there is no close below 1.2000, traders could assume that the bullish trend will continue.

today critical levels to watch:

Support: 1.2070, 1.2000

Resistance: 1.2200, 1.2300, 1.2500

GBP/USD

GBP/USD hanging near the high and trading sideways. The pair waiting for a trigger to move further upward to 1.3835 and 1.4000 targets. Today is the last day of the week, traders better continue waiting or hold long positions for now. If the pair moves lower and close below 1.3600 then the bearish scenario might playout toward 1.3450 or 1.3300 – 1.3330.

Today Critical level to watch:

Support: 1.3600, 1.3450, 1.3330, 1.3300

Resistance: 1.3835, 1.4000

USD/JPY

USD/JPY breakout above the bearish channel and closed above it yesterday. The pair immediately extend its bearish movement and reach the 105.00 resistance level. If the pair could continue to maintain the current bullish pressure then it might reach daily SMA 200 next.

Today critical levels to watch:

Support: 104.00, 101.50, 101.19

Resistance: 105.00, 106.00, 106.70

AUD/USD

AUD/USD pushed below 0.7640 with strong bearish momentum yesterday. However, the bearish pressure recedes and the pair climb back above the level at the end of the day to close above its opening level. The pair currently trading inside the previous day range, waiting for a trigger to move. The pair need a close below 0.7640 to confirm further weakness toward 0.7500 – 0.7550.

Today critical levels to watch:

Support: 0.7640, 0.7550, 0.7500

Resistance: 0.7700