USDX (USD Index)

U.S dollar index could not lift itself from the 93.00 support level. The index extended its bearish movement and set to target the lower support level. U.S second-quarter GDP comes out at -32.4%, better than -34.5% analysts expectation. However, traders and investors seem to take a flight from the U.S dollar as the Fed might double down on the stimulus.

It is better to avoid taking long positions in the U.S dollar for now.

EUR/USD

We have further bullish movement in the EUR/USD. The pair bounced from the 1.1710 level and extended its bullish movement above 1.1820. Without a major change in the trend, it seems EUR/USD will easily reach 1.2000 soon. Traders suggested avoiding taking short positions for now until major bearish pattern formed.

today critical levels to watch:

Support: 1.1710, 1.1600, 1.1580

Resistance: 1.1820, 1.2000

GBP/USD

GBP/USD jumped above 1.3000 and currently trading near 1.3100. The pair bullish momentum accelerated above the resistance level and might continue upward to target 1.3300 next. Similar to EUR/USD, traders suggested avoiding taking short positions for now until major bearish pattern formed.

Today Critical level to watch:

Support: 1.3000, 1.2800

Resistance: 1.3300

USD/JPY

USD/JPY could not bounce from the 105.00 support level. The pair continues moving lower without bullish reaction. Without a major change in the situation, it seems USD/JPY could move lower and target February low at 101.19.

Today critical levels to watch:

Support: 105.00, 101.19

Resistance: 106.70, 108.00

AUD/USD

AUD/USD initially fell below 0.7160 but the pair managed to push the price higher above its opening level. It is a strong bullish reaction from the retest of 0.7160. Under current situation, it seems AUD/USD could continue its bullish movement and target 0.7330.

Today critical levels to watch:

Support: 0.7160, 0.7000, 0.6820

Resistance: 0.7330