USDX (USD Index)

U.S dollar index consolidating near the blue box area. The index pushed lower today toward the 90.00 support level but manage to bounce. At the current time, the index is trading above the opening level and seeks to close inside the blue box area. If the index could close inside the blue box area then traders will expect a bullish continuation.

EUR/USD

EUR/USD direction is not settled yet. The pair hovering inside the 1.2000 – 1.2200 area and will wait for a trigger to move. There is a bullish attempt today but the pair relinquish all of its gains and currently trading below the opening level. We will expect the pair to continue consolidating between 1.2000 – 1.2200 area now.

today critical levels to watch:

Support: 1.2070, 1.2000, 1.1820

Resistance: 1.2200, 1.2300, 1.2500

GBP/USD

GBP/USD is unstoppable, continuing its bullish trend above the 1.3835 resistance level. The pair will target the 1.4000 resistance level next. No change to the scenario, traders will wait until the pair reaches the resistance level and produce a bearish reaction. If a bearish correction happens then traders could use 1.3835 as the level to enter long positions when retest happen.

Today Critical level to watch:

Support: 1.3835, 1.3600, 1.3450

Resistance: 1.4000

USD/JPY

USD/JPY crossed the daily SMA 200 today and trying to break out above the 5th February high. If the pair could close above the daily SMA 200 or better above the 5th February high then we are set for a new bullish leg. Traders will continue to observe the reaction at the current level while using daily SMA 200 as a level to enter positions.

Today critical levels to watch:

Support: 105.50, 105.00

Resistance: 106.00, 106.70

AUD/USD

AUD/USD touched the 0.7800 resistance level today. The pair show a bearish reaction from the resistance level and fall toward 0.7750. No conclusion yet on the pair’s next direction. The pair might continue consolidating between 0.7750 – 0.7800 area for now.

Today critical levels to watch:

Support: 0.7750, 0.7700, 0.7640, 0.7550, 0.7500

Resistance: 0.7800, 0.8000