USDX (USD Index)

U.S dollar index launched upward and breakout above the blue box area. At the end of the previous day, the index closed with a strong bullish candlestick. There is further bullish pressure today which breakout above the daily SMA 200. If the index could maintain its bullish pressure and breakout above 92.00 – 93.00 area in the medium-long term then the trend will shift from bearish to bullish.

EUR/USD

EUR/USD is under pressure and fall below daily SMA 200 today. The pair follow other major currencies falling against the U.S dollar. Under the current situation, it is better to wait until the bearish pressure recedes and watch the pair reaction near the support level.

If the pair could close the week above daily SMA 200 then traders will expect a bullish bounce in the coming week.

Today critical levels to watch:

Support: 1.2070, 1.2000

Resistance: 1.2200, 1.2300

GBP/USD

GBP/USD pushed below the yellow box area and closed below 1.4000 support level. There is a bearish continuation today but with weaker momentum. If the pair could recover its losses and closed near 1.4000 then there is a chance for a bullish bounce.

Today Critical level to watch:

Support: 1.4000, 1.3835, 1.3600

Resistance: 1.4325

USD/JPY

USD/JPY breakout above the triangle pattern and closed higher. The pair set to target the 111.00 resistance level. However, it seems the pair experience bearish pressure and slightly lower today. If the pair continues moving lower and reaches the 110.00 level then traders could consider entering long positions.

Today critical levels to watch:

Support: 109.00, 108.00, 106.70

Resistance: 110.00, 111.00

AUD/USD

AUD/USD breakout below the yellow box area and there is a bearish continuation today. The pair soon will reach the daily SMA 200 where traders will observe for bullish reaction. If the pair could bounce from the daily SMA 200 then there is a chance for bullish continuation.

Today critical levels to watch:

Support: 0.7550, 0.7500

Resistance: 0.7700