USDX (USD Index)

No breakout from the 92.60 – 94.00 area yet. U.S dollar index tested the 93.00 support level yesterday and managed to maintain the position above it. We expect the index to continue trading inside the 92.60 – 94.00 range for now.

U.S stimulus bill might become the mover of the index later when approved.

EUR/USD

EUR/USD range continue span between 1.1710 – 1.1820 as the pair closed below 1.1820 yesterday. The overall trend is bullish and currently, the pair is testing the top resistance.

As long as there is no breakout and close outside of the range, traders could assume the pair will continue trading inside the range.

today critical levels to watch:

Support: 1.1710, 1.1600, 1.1580

Resistance: 1.1820, 1.2000

GBP/USD

GBP/USD continue its ranging movement between 1.3000 – 1.3125. No breakout yet from the range which mean traders will continue applying ranging strategies.

1.2800 and 1.3250 is the targets to observe when breakout happen.

Today Critical level to watch:

Support: 1.3000, 1.2800

Resistance: 1.3250, 1.3300

USD/JPY

USD/JPY maintained the positions above 106.70 but no bullish continuation yet. The pair might come under pressure and traders will continue to monitor the closing level today.

If the pair closes below 106.70 then traders could consider entering short positions.

Today critical levels to watch:

Support: 106.00, 105.00, 101.19

Resistance: 106.70, 108.00

AUD/USD

AUD/USD mostly sideways near the 0.7160 resistance level. No major reaction yet from the resistance level and traders will wait for further reaction. On the upside 0.7330 is the bullish target, on the lower side, 0.7000 is the bearish target.

Today critical levels to watch:

Support: 0.7000, 0.6820

Resistance: 0.7160, 0.7330