USDX (USD Index)

U.S dollar index bounced from the 96.10 support level and closed above 96.70. The index might continue upward and target the 97.50 also daily SMA 200. At the current time, traders are waiting for further bullish pressure on the index. If a close above previous day happen then traders could continue to hold long positions in the U.S dollar.

EUR/USD

EUR/USD rejected from the 1.1360 resistance level and closed below 1.13000. The pair currently hovers near 1.13000 waiting for a trigger to move. If the pair closes below 1.1300 then traders will expect further weakness toward 1.1120 – 1.1185.

On the other hand, if the pair closes inside 1.1300 – 1.1360 then it is possible the pair will continue upward and test 1.1500.

today critical levels to watch:

Support: 1.1300, 1.1185, 1.1120

Resistance: 1.1360, 1.1500

GBP/USD

GBP/USD rejected from the 1.2800 resistance and closed near the daily SMA 200. At the current time, the pair is maintaining the position near the averages. No confirmation yet which direction the pair will move next. If the pair closes below the previous day low and daily SMA 200 then we will assume that the pair might trade further lower next week.

A close above daily SMA 200 also 1.2625 is a confirmation that the pair will continue its upward movement.

Today Critical level to watch:

Support: 1.2500, 1.2200

Resistance: 1.2625, 1.2800, 1.3000

USD/JPY

A major bullish reaction formed in USD/JPY from the 106.70 support level today. The bullish reaction has surpassed the previous day high and might close the day as a bullish engulfing pattern. If the bullish engulfing pattern formed then we might expect the pair to test 108.00 and daily SMA 200 next week.

Today critical levels to watch:

Support: 106.70, 105.00

Resistance: 108.00, 109.00, 110.00

AUD/USD

AUD/USD drifted lower from the 0.7000 resistance level. The pair found support level around 0.6820 today and currently traded above the opening level. If the bull could maintain the bullish pressure and close the day on the positive side then AUD/USD might continue higher to retest 0.7000 again soon.

Today critical levels to watch:

Support: 0.6820, 0.6750, 0.6700

Resistance: 0.7000, 0.7160