USDX (USD Index)

U.S dollar index continues trading near the 90.00 level for now. The index is expected to continue trading sideline near the level as traders are waiting for the release of U.S inflation data this week. If the index started a bullish movement then it could target the blue box area and the daily SMA 200. On the other hand, a breakout below 89.60 is further bearish confirmation.

EUR/USD

EUR/USD has returned near the 1.2200 resistance level. The pair expected to continue trading sideways near the level, following what happens in the U.S dollar index. It is better to wait until the pair produce a major reaction from the resistance level for now.

Today critical levels to watch:

Support: 1.2070, 1.2000

Resistance: 1.2200, 1.2300

GBP/USD

GBP/USD continues trading sideway at the middle of 1.4000 – 1.4325. We still expect the pair to reach 1.4325 and 1.4500 resistance levels. Meanwhile, traders will continue waiting for further reaction at the current level. If a bearish correction happens then 1.4000 is the level to look for long positions.

Today Critical level to watch:

Support: 1.4000, 1.3835, 1.3600

Resistance: 1.4325

USD/JPY

USD/JPY continues the triangle consolidation and waiting for a breakout. The triangle consolidation is bullish but the inflation data could overturn the trend and disregard the bullish pattern. Traders will observe the U.S inflation data and the market reaction in USD/JPY for now.

Today critical levels to watch:

Support: 109.00, 108.00, 106.70

Resistance: 110.00, 111.00

AUD/USD

AUD/USD stick near 0.7750 level after the bounce from below yellow box area. The pair expected to continue trading sideways inside the box area for now. Same as previous analysis, traders will continue waiting for a breakout from the yellow box area to determine the next direction of the pair.

Today critical levels to watch:

Support: 0.7700

Resistance: 0.7750, 0.7800, 0.8000