USDX (USD Index)

U.S dollar index managed to bounce from 95.50 support level and avoided the formation of a lower low. The index currently pressuring the 96.10 resistance level and will attempt to continue the bullish trend. If there is no change to the current bullish pressure then traders could expect continuation toward 96.70 and higher.

EUR/USD

EUR/USD pointing to the downside after the rejection from the level near 1.1500. The pair could not print a higher swing high and currently will test the 1.1300 – 1.1360 area. If the bearish pressure continues to mount then we might see a bearish continuation to target the 1.1000 support level.

Today critical levels to watch:

Support: 1.1360, 1.1300, 1.1185

Resistance: 1.1500

GBP/USD

GBP/USD stick near the 1.3600 and daily SMA 200 without major breakout above the level. The pair might resume the bearish trend and test the 1.3450 support level. On the upside, the pair need to print a higher swing high to confirm medium-long term bullish reversal. At the current time, traders might want to stay sideline.

Today Critical level to watch:

Support: 1.3450, 1.3330, 1.3300

Resistance: 1.3600, 1.3835

USD/JPY

USD/JPY testing the 115.90 resistance level but no major breakout above it yet. The pair has not printed a higher swing high yet which means the consolidation is expected to continue. If the pair trade lowers then traders will observe the reaction near the trendline. At the current time, it is better to avoid short positions until the trendline or 114.50 is broken to the downside.

Today critical levels to watch:

Support: 115.00, 114.50, 113.00, 112.00

Resistance: 115.90

AUD/USD

AUD/USD is slightly lower from the 0.7160 resistance level. The pair formed a bearish pin bar pattern last week and failed to maintain a position above 0.7160. If the pair resume the bearish trend then the pair will target the 0.7000 support level. A breakout below the level will confirm the continuation of the long-term bearish trend.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330, 0.7450