USDX (USD Index)

U.S dollar index is on the bearish track and soon will reach 97.50 support level. There is no change to the outlook at the current time. Traders might want to wait either reaction near the daily SMA 200 or the 97.50 support level. If the index could not bounce from 97.50 or close above daily SMA 200 then traders will prepare for long-term bearish trends.

EUR/USD

EUR/USD printed further bullish close and above 1.1120. The pair set to target 1.1185 resistance level without any change of direction. At the current time, traders might want to wait for a further reaction from the 1.1120 – 1.1185 area. If the pair form a major bearish pattern then traders will prepare for a bearish pullback.

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120, 1.1185

GBP/USD

GBP/USD continues its bullish movement toward 1.2625 as expected. The pair might reach the resistance level in a few days. We think the pair range of movement will continue to span between 1.2000 – 1.2625. As long as there is no breakout then traders will continue to apply ranging strategies inside the range.

Today Critical level to watch:

Support: 1.2200, 1.2100, 1.2000

Resistance: 1.2500, 1.2625

USD/JPY

USD/JPY consolidation set to continue near the 108.00 and daily SMA 200. No change to the outlook yet, traders will continue to monitor the pair reaction near the area. The end of consolidation might be near and the pair could move with sudden strong momentum in any direction.

Today critical levels to watch:

Support: 106.70, 105.00

Resistance: 108.00, 109.00

AUD/USD

A breakout above daily SMA 200 happens in AUD/USD. The pair also closed above 0.6750 with a strong bullish candlestick close. Without a strong bearish reaction at the current level then AUD/USD might continue further upside to target 0.7000.

Today critical levels to watch:

Support: 0.6500, 0.6300

Resistance: 0.6700, 0.6750