USDX (USD Index)

U.S dollar index continue the uptrend and will target the next resistance level. The situation will continue bullish as long as inflation numbers and interest-rate continue to increase. There is CPI data release today, traders will observe the data release to determine what the Fed will do next.

If inflation numbers soften then we might see bearish reversal in the U.S dollar index.

EUR/USD

EUR/USD has reached the parity level but to sweep below the level to clear the stop order level yet. The pair currently might consolidate near the level and awaiting ECB also the Fed interest-rate decision this month. We think a sweep below the parity level is needed to clear the stop order level before the trend could turn bullish.

Today’s critical levels to watch:

Support: 1.0000

Resistance: 1.0339, 1.0650, 1.0800, 1.0900

GBP/USD

GBP/USD is mostly bearish below the 1.2000 level. The pair is now expected to target the 1.1450 support level. Whenever a bullish correction happens, traders could prepare to enter short positions near the resistance level. In the long-term, will the pair continue the bearish movement to target parity against the U.S dollar?

Today’s critical levels to watch:

Support: 1.1450

Resistance: 1.2000, 1.2100, 1.2200

USD/JPY

USD/JPY hanging near the high without a strong bearish sign. The pair might continue trading sideway and slowly upward as the trend is bullish. Traders could only wait for a bearish correction toward support levels to enter long positions. At the current time, it is better to stay sideline or hold long positions with stop below 131.47

Today’s critical levels to watch:

Support: 135.19, 135.00

Resistance:

AUD/USD

AUD/USD maintains a level above 0.6750. No close below the level which means there is a chance of bounce toward 0.6820. The pair will continue the bearish trend as long as there is no higher high printed on the chart. At the current time, 0.6876 is the level to break to reverse the current bearish trend.

Today critical levels to watch:

Support: 0.6750, 0.6700

Resistance: 0.6820, 0.7000, 0.7160, 0.7300