USDX (USD Index)

U.S dollar index failed to breakout above the blue box area yesterday. The index closed the day near the bottom of the blue box area. Today, there is bearish follow-through, and the index is set to target 90.00. If the bear could maintain the bearish pressure until the weekly close then the index might test 90.00 or lower next week.

EUR/USD

EUR/USD closed below 1.2070 but immediately reverse its bearish pressure to close above 1.2070 yesterday. The pair keep building bullish pressure today and will seek to rally toward the 1.2200 resistance level. As mentioned in the previous analysis, the pair need a higher high and close above 1.2200 to continue its long-term bullish trend.

today critical levels to watch:

Support: 1.2070, 1.2000, 1.1820

Resistance: 1.2200, 1.2300, 1.2500

GBP/USD

GBP/USD bounced from 1.3835 level and closed higher yesterday. The pair manage to reach the 1.4000 resistance level today. There is no bearish reaction yet from the target resistance which means traders will continue to hold long positions or waiting sideline for now.

Today Critical level to watch:

Support: 1.3835, 1.3600, 1.3450

Resistance: 1.4000

USD/JPY

USD/JPY hovering lower toward the daily SMA 200. The pair is testing the average and waiting for a reaction. If the pair could close the weekly trading session above the averages then traders will expect a bullish bounce to happen next week.

Today critical levels to watch:

Support: 105.50, 105.00

Resistance: 106.00, 106.70

AUD/USD

No bearish correction in AUD/USD, the pair bounce from 0.7750 and breakout above 0.7800 today. It seems the pair will continue its bullish trend and target the 0.8000 resistance level next. Traders might want to avoid short positions for now while waiting for a bearish correction to enter long positions.

Today critical levels to watch:

Support: 0.7800, 0.7750, 0.7700

Resistance: 0.8000