USDX (USD Index)
U.S dollar index printed a bearish close at the end of the week. It broke below the 96.10 level but was fairly bullish. No change to the current bullish outlook and traders will continue to monitor the index for now. If the index continues the bearish movement then it could target the 94.00 – 94.30 support area.
EUR/USD
EUR/USD has not left the 1.1300 – 1.1360 area yet. The pair is expected to continue its ranging movement inside the area and traders will continue waiting for a breakout. On the upside, 1.1500 is the bullish target when a bullish breakout happens. On the downside, 1.1000 is the bearish target when a bearish breakout happens.
Today critical levels to watch:
Support: 1.1300, 1.1185, 1.1120, 1.1000
Resistance: 1.1360, 1.1500
GBP/USD
GBP/USD reached the daily SMA 200 also the 1.3600 resistance level. The pair keep testing the level and will attempt for a bullish breakout. As long as there is no breakout above the level, traders could continue to maintain a bearish view. Short positions could be considered when there is a major bearish reaction printed.
Today Critical level to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY managed to reach the 115.90 resistance level and stick near it. There is no major bearish reaction yet from the level which means there is a chance of bullish continuation. If the pair start a bearish correction then traders could use the 114.50 support level as the place to enter long positions.
Today critical levels to watch:
Support: 115.00, 114.50, 113.00, 112.00
Resistance: 115.90
AUD/USD
AUD/USD pushed lower and closed near 0.7160. The support level is maintained which means there is a chance of bullish reversal. If the pair could continue moving upward this week then 0.7300 – 0.7330 is the area to watch for the target. On the other hand, if a bearish breakout happens then traders will prepare for continuation toward 0.7000.
Today critical levels to watch:
Support: 0.7160, 0.7000
Resistance: 0.7300, 0.7330, 0.7450