USDX (USD Index)

The downward pressure on the U.S dollar index has not stopped yet. Yesterday, the U.S dollar index fell below the 96.70 support level but managed to close near it at the end of the day. The index might continue under pressure as the Fed projected there will be no rate-hike at least until 2022.

If the index moves lower then it might reach 95.00 targets and continue lower for the long-term.

EUR/USD

EUR/USD climbed and closed above 1.1360 resistance level. The pair might be able to extend its bullish movement and target the 1.1500 resistance level. Traders who consider long positions could take it near 1.1300. However, if a break and close below 1.1300 happen then be prepare for a bearish correction toward 1.1120 – 1.1185.

today critical levels to watch:

Support: 1.1360, 1.1300, 1.1185, 1.1120

Resistance: 1.1500

GBP/USD

GBP/USD reached the 1.2800 resistance level and show a rejection reaction. The pair currently trades lower and might reach 1.2625 also daily SMA 200. At the current time, the pair might range between 1.2625 – 1.2800 with a bullish bias. Traders could prepare to enter long positions near the daily SMA 200 and 1.2625.

Today Critical level to watch:

Support: 1.2625, 1.2500, 1.2200

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY gaining more bearish momentum below the daily SMA 200 and soon will reach 106.70 support level. If the support level is broken then traders will prepare for further weakness toward 105.00. It is better to avoid long positions until the pair lose its bearish momentum.

Today critical levels to watch:

Support: 106.70, 105.00

Resistance: 108.00, 109.00, 110.00

AUD/USD

AUD/USD stick near the 0.7000 resistance level and waiting for more clue for the next direction. Long positions near 0.6820 could be considered with 0.7160 as the target. At the current time, it is better to avoid short positions until a major bearish patterns formed and confirmed.

Today critical levels to watch:

Support: 0.6750, 0.6700

Resistance: 0.7000, 0.7160