USDX (USD Index)

U.S dollar index pressured lower and closed near the 93.00 support level. The index might come under pressure and set to test 92.60 this week. If the index could maintain the position above 92.60 then the range between 92.60 – 94.00 will be maintained.

As long as there is no breakout from the range, traders could expect further bullish correction toward 95.00.

EUR/USD

EUR/USD closed above 1.1820 which suggests further upside this week. The pair might continue upward and test the previous month high. Traders who have long positions could continue to hold the positions with 1.2000 as an upward target.

today critical levels to watch:

Support: 1.1710, 1.1600, 1.1580

Resistance: 1.1820, 1.2000

GBP/USD

GBP/USD mostly sideways last week as the pair ranging between 1.3000 – 1.3125. No breakout from the range yet, traders will continue waiting for a breakout from the range before deciding the next direction. If breakout and close below 1.3000 happen then 1.2800 will become the bearish target. On the upside, 1.3250 is the upward target.

Today Critical level to watch:

Support: 1.3000, 1.2800

Resistance: 1.3250, 1.3300

USD/JPY

USD/JPY closed below 106.70 at the end of the week which means the bear still in control. This week, if the pair could add more bearish pressure and close below Friday low then traders will expect long-term bearish continuation.

Today critical levels to watch:

Support: 106.00, 105.00, 101.19

Resistance: 106.70, 108.00

AUD/USD

AUD/USD stick near the 0.7160 without much change. The pair expected to continue its sideways movement near the level this week. No clue yet on the next direction. It is better to stay sideline for now.

Today critical levels to watch:

Support: 0.7000, 0.6820

Resistance: 0.7160, 0.7330