USDX (USD Index)

U.S dollar index is in a bearish trend and the index has 100.00 as a bearish target. Without a new higher high and higher low then there is no change to the bearish outlook. Traders will avoid long positions in the U.S. dollar for now. When the index makes a bullish movement then traders could enter short positions near the resistance level.

EUR/USD

EUR/USD is trading inside the 1.0800 – 1.0900 area now. The pair might continue the upward movement to target the 1.1000 resistance level next. If the pair start moving lower again then traders could use the 1.0650 level as the place to enter long positions. It is better to avoid shorting the pair until it reaches the 1.1000 level.

Today’s critical levels to watch:

Support: 1.0650, 1.0339, 1.0000, 0.9500

Resistance: 1.0800, 1.0900, 1.1000

GBP/USD

GBP/USD attempting to extend the bullish movement above the daily SMA 200. The pair could move higher today but it immediately reversed and traded below the opening level. No clear breakout from the 1.2000 – 1.2200 area yet which means the consolidation might continue. Traders will continue to hold long positions and await further confirmation.

Today’s critical levels to watch:

Support: 1.2000, 1.1450

Resistance: 1.2100, 1.2200

USD/JPY

USD/JPY outlook is bearish inside the bearish channel and the pair currently continuing the bearish movement. No reason for traders to turn bullish yet. It is better to wait until the pair make a bullish close above the top of the channel. Meanwhile, each bullish movement is a chance for traders to enter short positions at a higher level.

Today’s critical levels to watch:

Support: 139.30, 135.19, 135.00

Resistance: 140.00, 145.00, 150.00

AUD/USD

AUD/USD upward movement has reached the 0.7000 resistance level and there is a bearish reaction today. The pair might start moving lower to target the 0.6820 and daily SMA 200. Traders could wait near both levels for bullish reactions to enter long positions.

Today’s critical levels to watch:

Support: 0.6750, 0.6700, 0.6500, 0.6000

Resistance: 0.6820, 0.7000