USDX (USD Index)

We have a major bearish close below 92.00 yesterday. U.S dollar index set to continue its bearish trend and target the 90.00 support level next. However, if the index immediately closes above 92.00 by the end of the week then the current bearish breakout will become invalidated.

Traders might want to avoid long positions in the U.S dollar for now.

EUR/USD

EUR/USD jumped and closed near the 1.2070 level. The pair expected to continue its bullish trend further upward and target 1.2200 next. At the current time, the pair range might span between 1.2000 – 1.2070 where traders could consider entering long positions when 1.2000 tested.

today critical levels to watch:

Support: 1.2000, 1.1820, 1.1710, 1.1580

Resistance: 1.2070, 1.2200

GBP/USD

GBP/USD jumped from 1.3300 – 1.3330 area and closed near the 1.3450 resistance level. However, the pair currently under bearish pressure and tested the level near 1.3330. It seems the pair’s next direction has not been decided yet as Brexit decision loom. It is better to continue to wait and see or hold long positions for traders who have the positions.

Today Critical level to watch:

Support: 1.3330, 1.3300, 1.3250

Resistance: 1.3450, 1.3500

USD/JPY

USD/JPY mostly higher and set to test the 105.00 resistance level soon. The pair need a close above 105.00 and a higher high before the bullish trend is confirmed. Aside from that, the daily SMA 200 above the current level will become the major resistance level to watch.

Today critical levels to watch:

Support: 104.00, 101.50, 101.19

Resistance: 105.00, 106.00, 106.70

AUD/USD

AUD/USD bounced from the level near 0.7330 after the previous day’s bearish engulfing pattern. The bearish pattern is not confirmed to the downside which means there is a chance for bullish continuation. Same as previous analysis, AUD/USD expected to target the 0.7450 – 0.7500 area.

Today critical levels to watch:

Support: 0.7330, 0.7300, 0.7160

Resistance: 0.7450, 0.7500