USDX (USD Index)

The upward pressure on the U.S dollar index managed to break above the 96.10 resistance level. However, the index closed below the resistance level at the end of the day. Traders are waiting for the Fed FOMC meeting today which is expected to announce its first interest-rate hike in March.

EUR/USD

EUR/USD breakout below the 1.1300 support level but could not close below it. The pair will continue ranging movement inside the 1.1300 – 1.1360 and traders will wait for a close outside of the range. Today FOMC meeting might trigger volatility which brings the pair outside of the range and confirm the next direction.

Today critical levels to watch:

Support: 1.1300, 1.1185, 1.1120, 1.1000

Resistance: 1.1360, 1.1500

GBP/USD

GBP/USD pushed lower and tested the 1.3450 support level. The pair managed to bounce from the level and currently trading sideline. Traders will wait for further confirmation from today’s FOMC meeting. If the pair continues lower below the 1.3450 support level then traders will prepare for bearish continuation.

On the other hand, a close above daily SMA 200 at the end of the week is bullish confirmation.

Today Critical level to watch:

Support: 1.3450, 1.3330, 1.3300

Resistance: 1.3600, 1.3835

USD/JPY

USD/JPY has not printed a lower low on the daily chart which means the situation is neutral. If the pair continues lower then it might target the 112.00 support level. On the other hand, an upward movement above 114.50 will confirm a bullish continuation.

Today critical levels to watch:

Support: 113.00, 112.00

Resistance: 114.50, 115.00, 115.90

AUD/USD

AUD/USD stick near the 0.7160 support level and currently waiting for further reaction. The pair’s next long-term direction will depend on the reaction. If the pair continues moving lower then it might target the 0.7000 support level. On the upside, without a close above daily SMA 200, the trend will continue to bearish.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330, 0.7450