USDX (USD Index)

U.S dollar index resumes its bullish movement above the 93.00 level. The index is getting near the 94.00 – 94.30 area. There is no change to the outlook yet and traders might want to avoid shorting the U.S dollar for now. We might see the current strength in the index continue until next month’s FOMC meeting.

EUR/USD

EUR/USD breakout below 1.1710 and print lower low. The pair is expected to continue moving lower and target the 1.1580 support level next. Traders will wait for the weekly closing level. A close above 1.1710 will cancel the current bearish outlook.

Today critical levels to watch:

Support: 1.1710, 1.1580

Resistance: 1.1820, 1.2000, 1.2070

GBP/USD

GBP/USD finally breakout below the 1.3600 support level or the 1.3600 – 1.4000 area. The pair now have confirmed the continuation of the long-term bearish trend. However, traders will wait for the closing level at the end of the day and the end of the week.

If the pair formed a major bullish reaction and close above 1.3600 or the daily SMA 200 then the bearish scenario will be canceled.

Today Critical level to watch:

Support: 1.3600

Resistance: 1.3835, 1.4000, 1.4325

USD/JPY

USD/JPY breakout above the 111.00 resistance level and now getting near the 112.00 resistance level. There is no stop to the current bullish pressure which means traders better avoid short positions. On the bigger outlook, the pair seems will surpass this year’s high which was printed in May.

Today critical levels to watch:

Support: 109.00, 108.00

Resistance: 110.00, 111.00, 112.00

AUD/USD

AUD/USD continue consolidation near the 0.7300 – 0.7330 area. The pair get rejected from the area today but no lower low below the previous week’s low yet. The pair expected to continue consolidation near the current level and waiting for further reaction.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330, 0.7450, 0.7500