USDX (USD Index)

U.S dollar index could not continue the bearish movement after last week inflation data. The index looks bottoming before this week release of FOMC minutes of meeting and Jerome Powell speech. The next movement might happen after the news. Under current situation, it might be better to wait and see where the index will move next. If the index move upward, then it might retest the 100.00 level. On the lower side, a breakout and new lower swing low will confirm bearish continuation.

EUR/USD

EUR/USD is consolidating below the 1.1710 level and might continue the sideways movement between 1.1580 – 1.1710 area for now. As we mentioned, a breakout outside the area will confirm the next direction. If the pair turn lower from the current level, then it will form a lower swing high with potential bearish target at 1.1300.

Today’s critical levels to watch:

Support: 1.1580, 1.1500, 1.1360, 1.1300

Resistance: 1.1710, 1.1820

GBP/USD

GBP/USD turn lower after testing the 1.3600 level. The pair is moving between 1.3450 – 1.3600 and might continue ranging inside it for now. However, if the pair continue the downward movement then there is chance of retest of daily SMA 200. On the upside, a breakout and close above 1.3600 with strong momentum will confirm bullish continuation.

Today’s critical levels to watch:

Support: 1.3450, 1.3330, 1.3300, 1.3250, 1.3125, 1.3050, 1.3000

Resistance: 1.3600, 1.3800, 1.4000

USD/JPY

USD/JPY mostly sideways which mean no change to the outlook. The pair might continue its ranging movement until this week, FOMC minutes of meeting release of Jerome Powell speech. As we mentioned, we expect bearish breakout and continuation toward 145.00. However, if the pair turn upward again, then it might retest the 150.00 and daily SMA 200.

Today’s critical levels to watch:

Support: 145.00, 142.00,

Resistance: 149.20, 150.00, 151.00

AUD/USD

AUD/USD failed to maintain the position near the 0.6500 level. The pair is moving lower and will target the daily SMA 200. We could say the bear has the upper hand for now as it form a lower swing high. If the pair form a new lower swing low, then the bearish movement has potential to continue toward 0.6350.

Today’s critical levels to watch:

Support: 0.6350, 0.6250, 0.6000

Resistance: 0.6500, 0.6700