USDX (USD Index)

The direction of the U.S dollar index continues pointed to the bearish side. Yesterday, the index printed more bearish close and set to reach 93.00 support level. However, the bull return in today’s trading session. If the bull manages to push the index higher then we will expect corrective movement toward the 95.00 level.

EUR/USD

EUR/USD bounce from the 1.1710 level and closed higher yesterday. The pair upward movement might stall near the 1.1820 resistance level. Today, we have a bearish attempt in the pair. If the pair could continue to move lower and close below 1.1710 then we have a bearish reversal sign and could target 1.1500.

today critical levels to watch:

Support: 1.1710, 1.1600, 1.1580

Resistance: 1.1820

GBP/USD

GBP/USD extended its bullish movement and closed near the 1.3000 resistance level yesterday. There is no sign of weakness yet in the pair. Traders could use the 1.3000 resistance level as the place to take short positions. However, traders still need a bearish confirmation before could enter major short positions.

Today Critical level to watch:

Support: 1.2800, 1.2625, 1.2500

Resistance: 1.3000

USD/JPY

USD/JPY pushed lower and closed below 105.00 yesterday. There is a bullish bounce attempt today which could bring USD/JPY higher to target 106.70 resistance level. At the current time, the bull and the bear is in a stalemate. The closing level of today or the end of the week will determine the pair’s next direction.

Today critical levels to watch:

Support: 105.00

Resistance: 106.70, 108.00

AUD/USD

AUD/USD closed higher above 0.7160 resistance level. It might be the indication that the pair will continue its upward movement toward 0.7330 resistance. However, the bear immediately seizes the control and push the pair back below 0.7160.

We might see a bearish reversal with 0.7000 as a downward target.

Today critical levels to watch:

Support: 0.7000, 0.6820

Resistance: 0.7160, 0.7330