USDX (USD Index)

The U.S. dollar index continues to maintain its bullish pressure and there are no indications of a bearish reversal yet. Traders will be waiting for the index to lose its bullish pressure near the resistance point for opportunities to enter short positions. 103.50 and daily SMA 200 are bullish targets that traders need to pay attention to.

EUR/USD

EUR/USD is trading near the 1.1000 mark and will now be waiting for further developments. The major movement is likely to occur after the release of the US job data later this week. If the pair continues its weakening then the point 1.0900 is the bearish target to watch as well as a place where traders can consider long positions. The pair’s bullish target is the 1.1300 – 1.1360 area.

Today’s critical levels to watch:

Support: 1.1000

Resistance: 1.1120, 1.1185, 1.1300, 1.1360

GBP/USD

GBP/USD dropped and closed below the 1.2800 mark yesterday. The pair seems to be continuing its bearish movement with 1.2625 as a downside target. However, there is a possibility that the pair may also move flat near the 1.2800 point for now. If the pair can move up sharply then the bullish trend can continue.

Today’s critical levels to watch:

Support: 1.2800, 1.2625, 1.2200

Resistance: 1.3000, 1.3250, 1.3300, 1.3330

USD/JPY

USD/JPY distancing itself from 141.00 and will try to continue its upward movement towards 145.00. Currently, the pair is experiencing bearish pressure but is within yesterday’s range of movement. The direction of the trend is bullish because the pair has not yet formed a lower swing low point. If it turns out that the pair formed a lower swing high point then it can be a confirmation for the start of a bearish trend.

Today’s critical levels to watch:

Support: 141.00, 140.00, 139.30, 137.70, 133.00

Resistance: 145.00, 147.00

AUD/USD

AUD/USD fell and formed a lower swing low point. The condition of the pair is bearish and now has the opportunity to move toward 0.6500. Due to this situation, traders should wait for the pair to lose its bearish momentum near the support level. When a bullish reaction occurs, there is an opportunity for traders to enter long positions with tight stop orders.

Today’s critical levels to watch:

Support: 0.6500

Resistance: 0.6700, 0.6750, 0.6820, 0.7000