USDX (USD Index)

We have a bullish bounce in the U.S dollar index yesterday. The index closed higher but inside the Monday range. Today, the index makes a bearish movement and trade near the previous day’s opening level. If the index could continue its bearish pressure and close below 90.00 then traders will prepare for further weakness toward the 2018 low.

EUR/USD

EUR/USD stick near 1.2200 after the previous day bearish close. The pair is testing the resistance level from below today. We still expect the pair to continue its bullish movement and target 1.2300 also 1.2500. However, if a bearish correction happens then EUR/USD might target the 1.2000 – 1.2070 area.

today critical levels to watch:

Support: 1.2200, 1.2070, 1.2000

Resistance: 1.2300, 1.2500

GBP/USD

Brexit progress shows positive development before the end of the year deadline. GBP/USD gained above 1.3450 and looks to test the 1.3600 resistance level soon. We think the pair will continue trading between 1.3450 – 1.3600 while traders waiting for the actual Brexit result.

Today Critical level to watch:

Support: 1.3450, 1.3330, 1.3300, 1.3250

Resistance: 1.3600

USD/JPY

Not much change yet since yesterday. USD/JPY mostly sideways after the formation of a lower low on the daily chart. The pair will continue its consolidation near the current level and seek to add more bearish pressure. If bearish continuation happens then 101.50 and 100.00 will become the targets.

Today critical levels to watch:

Support: 101.50, 101.19

Resistance: 104.00, 105.00, 106.00, 106.70

AUD/USD

AUD/USD return inside the bullish channel range after the previous day’s bearish close. The pair expected to continue its bullish trend inside the channel. Today, the pair add more gain and reach the top of the channel. No major change yet and traders could use each bearish correction as an opportunity to enter long positions.

Today critical levels to watch:

Support: 0.7600, 0.7550, 0.7500, 0.7450

Resistance: 0.7640