USDX (USD Index)

U.S dollar index failed to make close above 99.40 after the index got rejected near 100. However, the bull is not giving up yet. The index currently moves higher above 99.40. As long as there is no close above 100 the index might reverse and move lower again.

News to watch

07.15 AM U.S ADP Non-Farm Employment Change, forecast -150k

For full outlook for this week, you can follow Forex Outlook For The Week 30 March – 3 April 2020

EUR/USD

The bull is in trouble as EUR/USD falls again below 1.1000. Yesterday, the pair fell below the support level but manage to close above it at the end of the day. Will the pair turn bullish again and make another close above 1.1000?

today critical levels to watch:

Support: 1.0900, 1.0650

Resistance: 1.1000, 1.1120

GBP/USD

GBP/USD makes bearish retracement today but it only short-lived as the pair bounce immediately and closed near its opening level. The pair currently show bearish sign but might maintain its position inside the previous day range. We think the bullish correction will continue until the pair reach daily SMA 200 or 1.2625.

Today Critical level to watch:

Support: 1.2200, 1.2100, 1.2000

Resistance: 1.2500, 1.2625

USD/JPY

The bull could not lift the pair and close above daily SMA 200. Today, the pair is in-risk of further bearish pressure below the averages. No conclusion yet on the next direction at the current time. Traders will wait for a further reaction from 108.00 and SMA 200.

Today critical levels to watch:

Support: 106.70

Resistance: 108.00, 110.00, 111.00

AUD/USD

AUD/USD slowly turns lower and getting near 0.6000. Similar to the previous analysis, traders could prepare for short-term long positions near the 0.6000 support level.

Today critical levels to watch:

Support: 0.6000, 0.5500

Resistance: 0.6200, 0.6300, 0.6500