USDX (USD Index)
The bearish pressure on the U.S. dollar index reversed and the index start moving upward again. At the current time, the index is retesting the 103.82 resistance level and will attempt to close above it. If the index makes a major bullish close above the 103.82 level then there is a chance of continuation toward the daily SMA 200. On the other hand, if the index gets rejected then it will target the 100.00 support level.
EUR/USD
EUR/USD continues under bearish pressure and currently retesting the 1.0650 support level. There is a bullish reaction today but traders will expect the pair to continue trading near the level until the release of U.S inflation data this week. If the pair closes below the 1.0650 level then the bearish movement will target the daily SMA 200 next. On the upside, if the pair could bounce then it will target the 1.1000 level.
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 continues consolidating inside the 1.2000 – 1.2200 area. The pair will stick inside the area until the release of U.S. inflation data this week. Traders will monitor the pair reactions inside the area. If the pair could bounce with strong bullish momentum then we might see another attempt to print a new higher high. On the other hand, if the pair resume the bearish movement and print a new lower low then traders will expect a new bearish trend.
Today’s critical levels to watch:
Support: 1.2000, 1.1450
Resistance: 1.2100, 1.2200
USD/JPY
USD/JPY is trading near the green box area and continues moving upward today. The pair is testing the previous week’s high and will attempt to break out above it. If the pair could continue moving upward then it will target the daily SMA 200. On the other hand, if the pair closes below the green box area at the end of the week then we might see a continuation of bearish the trend.
Today’s critical levels to watch:
Support: 130.00, 125.00
Resistance: 133.00, 137.70
AUD/USD
AUD/USD rejection from the 0.7000 resistance level has no strong bearish continuation. The pair hanging at the middle of daily SMA 200 and 0.7000. There is no major movement yet and traders will wait for further reactions. If the pair could close above 0.7000 then we might see a retest on the 0.7160 resistance level. On the lower side, a close below the daily SMA 200 will open the bearish path.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6000
Resistance: 0.6820, 0.7000