USDX (USD Index)

The direction of the U.S dollar index continues bearish after seven days bearish streak. There is no change to the outlook yet as the index printed further bearish close. However, a bullish bounce might happen soon. Traders who want to enter long positions might want to treat it as short-term bounce only.

It is possible U.S dollar index will continue its bearish movement and target 93.00, 92.00, and lower.

EUR/USD

EUR/USD extended it’s bearish close yesterday. The pair reached the 1.1710, moreover close above it with ample distance. Under the current situation, EUR/USD might continue upward and target the 1.1820 before make a bearish correction.

Despite the situation, traders might want to prepare for bearish reversal inside the 1.1710 – 1.1820.

today critical levels to watch:

Support: 1.1710, 1.1600, 1.1580

Resistance: 1.1820

GBP/USD

GBP/USD finally closed above 1.2800 resistance level and confirmed the medium-long-term trend change. If the pair make a bearish correction to retest 1.2800 then traders could prepare to enter long positions. On the upside, 1.3000 is the resistance level to target.

Today Critical level to watch:

Support: 1.2800, 1.2625, 1.2500

Resistance: 1.3000

USD/JPY

USD/JPY bearish pressure managed to bring the pair down and reached the level near 105.00. No reason to turn bullish in the pair now. Traders will wait for a bullish correction toward 106.00 or 106.70 to place short positions.

Today critical levels to watch:

Support: 105.00

Resistance: 106.70, 108.00

AUD/USD

AUD/USD stick near 0.7160 without a strong clue in the next direction. The pair currently attempting to breakout above the resistance but it seems the bear has the upper hand. If the pair rejected from the resistance level again then it might start moving lower and target the 0.7000 or 0.6820.

Today critical levels to watch:

Support: 0.7000, 0.6820

Resistance: 0.7160, 0.7330