USDX (USD Index)
U.S dollar index is mostly sideways near the 96.10 resistance level. There is no strong momentum movement away from the level. Traders will continue waiting for a further reaction from the level for now. At the current time, the tension between Russia and Ukraine continues to increase as Russia sent troops to Eastern Ukraine.
If war breakout then traders will avoid taking positions in risk-asset and flee to safe-haven assets such as the U.S dollar.
EUR/USD
EUR/USD continues its sideways movement between the 1.1300 – 1.1360 area and is expected to maintain the ranging movement for now. Traders will continue waiting for the pair to move and close outside of the range to confirm the next direction.
Today critical levels to watch:
Support: 1.1300, 1.1185
Resistance: 1.1360, 1.1500
GBP/USD
GBP/USD got rejected from the top of the triangle and start moving lower. The pair is currently under bearish pressure below the daily SMA 200. If the pair continue the bearish movement then it might target the bottom of the triangle. Traders will wait for a close outside of the triangle pattern to confirm the next direction.
Today Critical level to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600, 1.3835
USD/JPY
USD/JPY bounce from the 114.50 support level and start moving upward. The pair currently moving near yesterday’s high and will attempt to close above it. A close above the high will form a bullish engulfing pattern which will confirm further upward movement toward the 115.90 resistance level.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD continues to maintain the position above 0.7160 level and currently distancing itself from the level. No major bullish breakout yet which indicates more consolidation movement near 0.7160 for now. If the pair continues moving upward then 0.7300 – 0.7330 and the daily SMA 200 will become the target.
Today critical levels to watch:
Support: 0.7160, 0.7000
Resistance: 0.7300, 0.7330, 0.7450