USDX (USD Index)

U.S dollar index started a bearish correction after rejection from the 97.50 resistance level. The index will target the 96.70 support level. At the current time, traders will continue to monitor the index movement between 96.70 – 97.50. Without breakout below the 96.70, traders will assume the index will bounce and continue its consolidation inside 96.70 – 97.50.

EUR/USD

EUR/USD building bullish pressure toward 1.1300 – 1.1360 resistance area. The pair currently testing the level and looking for bullish continuation above it. At the current time, no breakout happened yet. Traders will continue to monitor the pair movement between 1.1185 – 1.1300 for now.

today critical levels to watch:

Support: 1.1185, 1.1120

Resistance: 1.1300, 1.1360, 1.1500

GBP/USD

GBP/USD bullish movement has entered the third day and soon will reach the daily SMA 200. The current bullish movement might grow into another bullish rally above daily SMA 200. However, it is not confirmed yet. At the current time, the GBP/USD range span between 1.2000 – 1.2625. Traders are waiting for a breakout from the range before deciding the long-term direction of the pair.

Today Critical level to watch:

Support: 1.2200, 1.2000

Resistance: 1.2500, 1.2625

USD/JPY

USD/JPY reached the 108.00 targets and formed a bearish engulfing pattern yesterday. The pair might start moving lower, respecting the 106.70 – 108.00 range. Traders could enter short positions near the current level with 106.70 as the target. The stop level could be placed above the daily SMA 200.

Today critical levels to watch:

Support: 106.70, 105.00

Resistance: 108.00, 109.00, 110.00

AUD/USD

AUD/USD managed to continue to maintain the position above 0.6820. The pair slowly gaining and might attempt to retest 0.7000 resistance again. If the pair could break out above 0.7000 then 0.7160 is the upward target. Similar to the previous analysis, if bearish breakout happens then 0.6700 and daily SMA 200 will become the target.

Today critical levels to watch:

Support: 0.6820, 0.6750, 0.6700

Resistance: 0.7000, 0.7160