USDX (USD Index)
The index traded positively yesterday but it could not close the day on the positive side. The index closed the day near its opening level and suggests further consolidation near 90.00. At the current time, the index was bolstered by bullish sentiment after the increase in U.S 10-year treasury yield.
If the increase in treasury yield caused roll-back in U.S stimulus then the U.S dollar index expected to rally toward 92.00 – 93.00.
EUR/USD
EUR/USD initially fell with strong bearish momentum. Fortunately, the pair reversed and closed near its opening level. If the pair continues moving lower then traders will expect a test on the 1.2000 – 1.2070 area. On the upside, the pair needs to climb above 1.2200 to confirm a bullish continuation.
today critical levels to watch:
Support: 1.2070, 1.2000
Resistance: 1.2200, 1.2300, 1.2500
GBP/USD
GBP/USD closed higher yesterday after the pair almost test the 1.3600 level. At the current time, the pair is trading near the December high and will attempt to break out toward 1.3835 and 1.4000. Traders who have long positions could continue to hold the positions for now.
Today Critical level to watch:
Support: 1.3600, 1.3450, 1.3330, 1.3300
Resistance: 1.3835, 1.4000
USD/JPY
USD/JPY attempted to move upward and test the top of the channel. However, the pair reversed and closed near its opening level. There is no rejection confirmation yet and the pair might continue trading near the top of the channel for now. If the pair add more bearish pressure and closed below the previous day’s low then traders will assume further bearish continuation.
Today critical levels to watch:
Support: 101.50, 101.19
Resistance: 104.00, 105.00, 106.00, 106.70
AUD/USD
AUD/USD supported above the channel and limited below 0.7800. The pair trend is bullish and will wait for a further bullish breakout. If the pair start moving lower then traders will observe 0.7640 and 0.7500 – 0.7550 area for a possible bounce.
Today critical levels to watch:
Support: 0.7700, 0.7640
Resistance: 0.7750, 0.7800