USDX (USD Index)

The progress of the U.S dollar index continues on the bearish side and the index printed lower low in today’s trading session. No change yet on the bearish outlook toward 95.50 and 95.00. If the index could not close above 96.10 with strong bullish momentum then traders will expect the bearish targets will be achieved.

EUR/USD

EUR/USD stuck near the 1.1450 resistance level and currently consolidating near it. Yesterday, the pair pushed further higher and closed near the resistance level. Today, the bear maintained the level below the 1.1450 resistance level. We think the pair might continue its upward movement and target 1.1500 this week.

However, if the pair make a strong bearish reaction from the resistance level then traders could enter short positions.

today critical levels to watch:

Support: 1.1360, 1.1300

Resistance: 1.1450, 1.1500

GBP/USD

GBP/USD crossed above the daily SMA 200, 1.2625 resistance, and the top of the triangle. The bullish close made by the pair yesterday has follow-through in today’s trading session. The bull is in control and it will open the way toward 1.2800 resistance level.

Today Critical level to watch:

Support: 1.2625, 1.2500

Resistance: 1.2800

USD/JPY

USD/JPY hovering in the middle of 106.70 – 108.00 directionless as usual. Nothing changed yet and the pair should continue its consolidation inside the 106.70 – 108.00 area. Traders will continue to monitor the pair reaction at the current time.

Today critical levels to watch:

Support: 106.70, 105.00

Resistance: 108.00, 109.00, 110.00

AUD/USD

A breakout above 0.70000 resistance level happens today which brings AUD/USD sharply higher. The pair now expected to target the 0.7160 resistance level as previously forecasted. Traders who have long positions could continue to hold their positions. Short positions could be taken near 0.7160 when there is a major bearish reaction.

Today critical levels to watch:

Support: 0.6820, 0.6750, 0.6700

Resistance: 0.7000, 0.7160