USDX (USD Index)

The upward pressure on the U.S dollar index could not make a significant-close above 99.40. The index expected to continue its movement near 99.40 – 100 area. At the current time, the index stick near 99.40. Traders will wait for further reaction. A close above 100 is the major confirmation that the index will continue its bullish trend.

News to watch

07.30 AM U.S Unemployment Claims, forecast 3600k

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

EUR/USD

EUR/USD closed below 1.1000 and currently attempts to move further lower. The pair might trade between 1.0900 – 1.1000. If a close below 1.0900 happens then the pair will continue its bearish trend. On the other hand, if the pair could move higher and close above the daily SMA 200 then traders will expect a bullish continuation.

today critical levels to watch:

Support: 1.0900, 1.0650

Resistance: 1.1000, 1.1120

GBP/USD

Not much reaction seen on GBP/USD yet, the pair closing level has not changed much past four days. We expect further consolidation near the current level while waiting for the pair to reach 1.2000 – 1.2100 or 1.2625 and daily SMA 200.

Today Critical level to watch:

Support: 1.2200, 1.2100, 1.2000

Resistance: 1.2500, 1.2625

USD/JPY

USD/JPY extends its bearish close below the SMA 200. The pair might reach 106.70 support level soon. If it closes below 106.70 then traders will expect further bearish continuation. However, if the pair could close above the daily SMA 200 then USD/JPY might restart its bullish attempt toward 112.00

Today critical levels to watch:

Support: 106.70

Resistance: 108.00, 110.00, 111.00

AUD/USD

AUD/USD is slightly higher despite the bearish close yesterday. The pair has not reached the 0.6000 support level and currently hanging above it. No change to the situation yet. If the pair reach 0.6000 then traders could consider long positions.

Today critical levels to watch:

Support: 0.6000, 0.5500

Resistance: 0.6200, 0.6300, 0.6500