USDX (USD Index)
U.S dollar index is trading slightly higher in today’s trading session as traders anticipating the Fed FOMC meeting this week. Despite the situation, we might see the index moving near the daily SMA 200 and waiting for further reactions. If the index could close above the daily SMA 200 after the Fed announcement then there is a chance of bullish continuation. On the other hand, if the index gets rejected with strong bearish reactions then the bearish trend will continue.
EUR/USD
EUR/USD does not continue the upward movement toward the 1.06500 resistance level yet. The pair looks trading lower in today’s trading session. Traders might want to stay sideline until this week’s FOMC meeting. If the pair start moving lower again then the daily SMA 200 and 1.0339 will become the bearish target.
Today’s critical levels to watch:
Support: 1.0339, 1.0000, 0.9500
Resistance: 1.0650
GBP/USD
GBP/USD stays above the 1.2000 – 1.2200 area but has no bullish continuation. The pair might continue trading sideways near the current level until the Fed FOMC meeting. If the pair continues moving lower and close below the daily SMA 200 then the bearish trend will resume. On the other hand, if the pair extend the bullish movement and print a new higher high then the bullish trend will continue.
Today’s critical levels to watch:
Support: 1.2100, 1.2000, 1.1450, 1.0500, 1.0000
Resistance: 1.2200
USD/JPY
USD/JPY make another bullish attempt on the 137.70 level. The pair will attempt to breakout and close above 139.30 to resume the bullish trend. If the pair get rejected with strong bearish momentum then we might see another bearish attempt on the daily SMA 200. A close below the daily averages will confirm the switch from a bullish trend to a bearish trend.
Today’s critical levels to watch:
Support: 139.30, 135.19, 135.00
Resistance: 140.00, 145.00, 150.00
AUD/USD
AUD/USD maintain the position inside the 0.6700 – 0.6820 area before the Fed FOMC meeting. If the pair could resume the upward movement then daily SMA 200 and 0.7000 will become the upward target. On the other hand, a bearish breakout below 0.6700 will open the path toward 0.6500.
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000