USDX (USD Index)

There was a bullish attempt toward the top of the blue box area yesterday. However, the bullish attempt resulted in rejection. U.S dollar rejected and closed the day significantly bearish. Today, there is a bearish continuation testing the bottom of the blue box area.

No breakout blows the box area yet which means a consolidation might happen and the index will bounce to test the top of the box.

EUR/USD

EUR/USD extended its bullish movement and bounced from the 1.2070 level yesterday. There is bullish follow-through today but the price seems trading back to its opening level. If the bullish pressure is maintained then we might see the pair trading near 1.2200 soon.

Today critical levels to watch:

Support: 1.2070, 1.2000, 1.1820, 1.1710

Resistance: 1.2200

GBP/USD

GBP/USD mostly higher after the bounce from the 1.3835 support level. The pair range currently spans between 1.3835 – 1.4000. Traders could expect a test on the 1.4000 resistance level soon. If the pair could breakout and close above it then traders will expect a bullish continuation toward 1.4325.

Today Critical level to watch:

Support: 1.3835, 1.3600

Resistance: 1.4000, 1.4325

USD/JPY

USD/JPY attempted to move upward yesterday but the pair closed lower at the end of the day. Today, there is another bullish attempt testing the previous day high. If the bullish pressure could continue to build up then USD/JPY is expected to continue its bullish movement to target 110.00.

Today critical levels to watch:

Support: 108.00, 106.70

Resistance: 109.00, 110.00, 111.00

AUD/USD

AUD/USD moved lower initially yesterday but managed to recover all of its losses and closed the day higher. The pair continue to stick near the 0.7800 resistance level. We think a breakout above 0.7800 will happen soon and the pair could continue its bullish movement toward 0.8000.

Today critical levels to watch:,

Support: 0.7750, 0.7700, 0.7640, 0.7550, 0.7500

Resistance: 0.7800, 0.8000