USDX (USD Index)

U.S dollar index pushed lower below 96.70 support level but managed to rally at the end of the day and closed above the 96.70 level. However, the bearish pressure has not receded yet as the index under pressure again today. Traders are waiting for the closing level of the index at the end of the day.

If the index closes above 96.70 then traders will expect a bullish attempt toward 98.40 next week. On the other hand, if the index closes below 96.70 we might see bearish continuation toward 96.10 and 95.00.

EUR/USD

EUR/USD rejected from the 1.1360 resistance level and closed below 1.1300 yesterday. The pair extend its bearish movement today but it seems the bull has secured the control over the pair again right now. EUR/USD currently trades higher and testing the 1.1300 resistance level.

Will the pair close above 1.1300 and continue higher to retest 1.1360 again?

today critical levels to watch:

Support: 1.1185, 1.1120

Resistance: 1.1300, 1.1360, 1.1500

GBP/USD

GBP/USD closed the previous trading day as a bearish pin bar pattern. The pair manage to move below the pattern but there is a bounce from the daily SMA 200. At the current time, the pair traded above the previous day low and testing the 1.2625 resistance level. No conclusion yet on the pair next direction.

The pair will wait for either a close above 1.2625 or below the daily SMA 200 to confirm the next direction.

Today Critical level to watch:

Support: 1.2500, 1.2200, 1.2000

Resistance: 1.2625, 1.2800

USD/JPY

USD/JPY pushed lower and reach the 106.70 support level today. The pair halt its bearish pressure near the level and currently waiting for further development. As long as there is no close below the level, USD/JPY expected to continue trade between 106.70 – 108.00.

Today critical levels to watch:

Support: 106.70, 105.00

Resistance: 108.00, 109.00, 110.00

AUD/USD

AUD/USD tested the 0.7000 resistance level and closed lower yesterday. There is bearish follow-through in today’s trading session. However, the pair has returned near the previous day low. If the bear could continue to put more bearish pressure and further the weakness of AUD/USD then we might see the pair target the 0.6820 support level.

Today critical levels to watch:

Support: 0.6820, 0.6750, 0.6700

Resistance: 0.7000, 0.7160