USDX (USD Index)

The U.S dollar index jumped after the Fed FOMC result. There is no change in the Fed stance and there is no mentioning of tapering. But, lack of easing is interpreted by the market as a light-tapering signal. The U.S dollar index is expected to continue putting bullish pressure and attempt to break out from the blue box area. If the index closes above the area then we have a confirmation on the bullish “W” pattern.

On the upside, 92.00 and 93.00 is the bullish target.

EUR/USD

EUR/USD drifted lower from 1.2200 and tested the 1.2070 support level yesterday. The pair will continue testing the 1.2000 – 1.2070 support area for now. If a bearish breakout happens then the pair could continue toward the 1.1820 support level.

today critical levels to watch:

Support: 1.2070, 1.2000

Resistance: 1.2200, 1.2300, 1.2500

GBP/USD

The bullish pressure in GBP/USD recede and the pair reverse its direction. Yesterday, the pair made a bearish close and there is follow-through today. Nevertheless, the pair need a close below 1.3600 to confirm a further bearish correction.

Today Critical level to watch:

Support: 1.3600, 1.3450, 1.3330, 1.3300

Resistance: 1.3835, 1.4000

USD/JPY

A bullish breakout finally happens in USD/JPY. The pair climb above the bearish channel and will attempt to target 105.00 and SMA 200. If the pair could maintain the bullish pressure above the channel until the close of the day then we will have a confirmed bullish breakout.

Today critical levels to watch:

Support: 104.00, 101.50, 101.19

Resistance: 105.00, 106.00, 106.70

AUD/USD

AUD/USD pushed lower and closed below the bullish channel. It is a bearish confirmation and there is bearish follow-through today. The pair has moved below 0.7640 today and expected to extend its bearish movement toward 0.7500 – 0.7550 area.

Today critical levels to watch:

Support: 0.7550, 0.7500

Resistance: 0.7640, 0.7700