USDX (USD Index)
U.S dollar index attempted to move upward yesterday but the index settled lower at the end of the day. There is a bearish continuation in today’s trading session. If there is no change to the situation then the index could continue the downward movement to target the 100.00 support level. On the other hand, if the index starts moving upward again then it will target the 103.82 resistance level.
EUR/USD
EUR/USD bounced from the 1.0800 support level yesterday and printed a bullish pin bar pattern. The pair keep building more bullish pressure today and trading near the 1.0900 resistance level. The pair has not left the 1.0800 – 1.0900 range yet but we might see a breakout soon. If the pair continues upward then it will target the 1.1000 resistance level. On the lower side, a bearish breakout will bring the pair down to target 1.0650.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0339, 1.0000, 0.9500
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD slowly moving lower toward the 1.2000 – 1.2200 support area. The pair might reach the area and produce a bullish reaction. When the pair form a bullish reaction, traders could enter long positions with a stop below the previous swing low or below 1.20000. On the upper side, 1.2625 and 1.2800 are the levels to watch as the target.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY looks trading sideway near the current level before the Fed FOMC meeting. The pair might move with strong momentum after the interest-rate announcement. If the pair continues moving lower then traders will assume the pair to move inside the bearish channel. However, if the pair trades upward then it might target the daily SMA 200.
Today’s critical levels to watch:
Support: 125.00
Resistance: 130.00
AUD/USD
AUD/USD tested the 0.7000 support level and bounced from it. The pair formed a bullish pin bar pattern and there is an upward continuation today. As mentioned in the previous analysis, if the pair could continue upward and close above 0.7160 then the long-term trend will turn bullish. On the other hand, a breakout and close below 0.7000 will confirm bearish movement toward 0.6820 and the daily SMA 200.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000