USDX (USD Index)

U.S dollar index holding out near the 95.50 support level. There is no major reaction yet from the level. Similar to the previous day analysis, traders seem to wait for the release of U.S inflation data tomorrow. We will have a major reaction tomorrow and get a clue on the next direction.

EUR/USD

EUR/USD is slightly lower from the 1.1500 resistance level but no major bearish movement yet. The pair is expected to consolidate near the current level and wait for further reaction. If the pair start moving lower then 1.1300 – 1.1360 is the support area to watch.

Today critical levels to watch:

Support: 1.1360, 1.1300, 1.1185

Resistance: 1.1500

GBP/USD

GBP/USD return to the daily SMA 200 level and continue trading near it for now. The pair formed a lower swing high and higher swing low which means the situation is sideway. The next direction might be determined by the formation of higher swing high or lower swing low.

Today Critical level to watch:

Support: 1.3450, 1.3330, 1.3300

Resistance: 1.3600, 1.3835

USD/JPY

USD/JPY building bullish pressure toward the 115.90 resistance level. At the current time, the long-term trend of the pair is bullish but no confirmation yet that the current bullish movement will continue. Traders will observe the pair reaction near 115.90 for now while waiting for tomorrow’s inflation data release.

Today critical levels to watch:

Support: 115.00, 114.50, 113.00, 112.00

Resistance: 115.90

AUD/USD

AUD/USD return to the 0.7160 resistance level and stick near it for now. The pair might continue trading sideways near the level until the release of U.S inflation data tomorrow. Will the pair continue upward to test daily SMA 200? Alternatively, will it turn lower and target the level below 0.7000?

Today critical levels to watch:

Support: 0.7000

Resistance: 0.7160, 0.7300, 0.7330, 0.7450