USDX (USD Index)

U.S dollar index attempting to move upward and tested the 96.10 resistance level today. The index gets rejected and trade back to its opening level. There is no change to the index long-term trend which is bullish. Trades will continue waiting for the index to breakout above 96.10 or below 95.00 to confirm the next direction.

EUR/USD

EUR/USD sticks near the 1.1300 – 1.1360 area and is expected to continue trading sideways. Without a higher swing high printed, there is no change to the current long-term bearish trend. Traders will continue waiting for the close above daily SMA 200 or below 1.1120 to confirm the next direction.

Today critical levels to watch:

Support: 1.1300, 1.1185

Resistance: 1.1360, 1.1500

GBP/USD

GBP/USD pressuring to the upside above the 1.3600 and daily SMA 200. The pair currently testing the top trendline and looking for a close above it. Traders will wait for the closing level at the end of the day to get confirmation on the pair’s next direction. A breakout and close above the trendline at the end of the week will confirm a bullish continuation.

Today Critical level to watch:

Support: 1.3450, 1.3330, 1.3300

Resistance: 1.3600, 1.3835

USD/JPY

USD/JPY traded lower from the 115.90 resistance level and set to start a bearish correction. The bearish target of the current movement is the trendline and the 114.50 support level. Traders could prepare long positions near the support levels when there is a bullish reaction.

Today critical levels to watch:

Support: 115.00, 114.50, 113.00, 112.00

Resistance: 115.90

AUD/USD

AUD/USD made a close above 0.7160 again and might attempt to continue moving upward. On the upside, the pair needs to break and close above daily SMA 200 to confirm a bullish reversal. On the lower side, 0.7000 is the major support level that needs to be broken to continue the bearish trend.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330, 0.7450