USDX (USD Index)

The bullish movement of the U.S dollar index reversed yesterday as the index closed lower near 90.00. There is further bearish pressure today but no confirmation yet that the index will continue moving lower. Traders will monitor the index reaction near 90.00 for now. If the index makes further bearish movement and closes below 89.60 then traders will prepare for weakness toward 88.80 and 88.25.

EUR/USD

EUR/USD return inside 1.2200 – 1.2300 after the previous day bullish close. The pair will attempt to build further bullish pressure and head toward 1.2300. However, if the pair moves lower and close below the previous day’s low then traders will prepare for bearish continuation toward 1.2000 – 1.2070.

today critical levels to watch:

Support: 1.2070, 1.2000

Resistance: 1.2200, 1.2300, 1.2500

GBP/USD

GBP/USD made a significant bullish close above 1.3600 yesterday. After the bullish close, it seems the path toward 1.3835 and 1.4000 become easier. If the pair move lower to test 1.3600 then traders could consider entering long positions with a short-term time-frame.

Today Critical level to watch:

Support: 1.3600, 1.3450, 1.3330, 1.3300

Resistance: 1.3835, 1.4000

USD/JPY

USD/JPY was rejected from the top of the channel and formed a bearish reaction. Traders who have entered short positions could hold the positions while expecting the bearish trend will continue. Nothing out of expectation for now. A stop could be placed above the swing high 104.40.

Today critical levels to watch:

Support: 101.50, 101.19

Resistance: 104.00, 105.00, 106.00, 106.70

AUD/USD

AUD/USD bounced from the top of the channel and canceled its bearish correction. The pair set to retest the 0.7800 resistance level again. If a bullish breakout happens then the pair will target 0.7875 and 0.8000 resistance levels next.

Today critical levels to watch:

Support: 0.7700, 0.7640

Resistance: 0.7750, 0.7800