USDX (USD Index)
The bearish pressure on the U.S dollar index stopped at the 92.00 level and the index currently shows a bullish reaction. It seems the index might continue its bullish movement and target the 93.00 resistance level. Without any close below 92.00, traders might be better to avoid shorting the U.S dollar for now.
EUR/USD
EUR/USD printed a bullish pin bar pattern last Friday. There is bullish follow-through today which breaks above the candlestick high. However, the pair lose bullish pressure and currently trading below the opening level. It seems the bear has taken control and will push the pair down to test 1.1820 again.
If the 1.1820 support level is broken then traders will expect a bearish continuation toward 1.1710.
Today critical levels to watch:
Support: 1.1820, 1.1710
Resistance: 1.2000, 1.2070
GBP/USD
GBP/USD attempting to bounce from the 1.3835 support level and the trendline. The pair jumped with strong bullish momentum but it pushed back near its opening level. If the pair closed below 1.3835 and the trendline then traders will expect a bearish continuation toward daily SMA 200.
Today Critical level to watch:
Support: 1.3835, 1.3600
Resistance: 1.4000, 1.4325
USD/JPY
USD/JPY under bearish pressure and testing the trendline. As long as the pair could bounce from the trendline then traders will expect bullish continuation to test 112.00 resistance level. Meanwhile, breakout and close below the trendline will change the current trend from bullish to bearish and trigger bearish movement toward 110.00.
Today critical levels to watch:
Support: 111.00, 110.00, 109.00
Resistance: 112.00
AUD/USD
AUD/USD moving upward to test the daily SMA 200. A close above the averages will confirm further bullish movement in the pair and confirm the double bottom pattern. Traders will observe the pair reaction near the current level and waiting for the formation of a higher high for bullish confirmation toward the yellow box area.
Today critical levels to watch:
Support: 0.7550, 0.7500, 0.7450
Resistance: 0.7700