USDX (USD Index)

U.S dollar index bounced from the 103.82 level last week and indicates further bullish continuation. The index currently trading sideway and will wait for further reaction. Will the index continue moving upward and print a new higher high? Alternatively, will it resume the bearish movement and target the 100.00 – 100.30 areas?

EUR/USD

EUR/USD bounced from the level near 1.0339 and is currently in the middle of 1.0339 – 1.0650. The pair might continue trading sideways while waiting for the next direction. On the upside, the pair needs to close above 1.0800 to confirm a long-term bullish reversal. On the other hand, if the pair resume the bearish movement and print a new lower low then the bearish trend is set to continue.

Today’s critical levels to watch:

Support: 1.0339, 1.0000

Resistance: 1.0650, 1.0800, 1.0900

GBP/USD

GBP/USD bounced from the 1.2000 – 1.2200 area and currently stick near the area. If the pair could continue moving upward then the 1.2500 – 1.2625 area will become the area where traders consider short positions. A close above 1.2625 will overturn the current bearish trend. With the pair continue printing lower low and lower high, it is better to stick with short positions.

Support: 1.2200, 1.2100, 1.2000

Resistance: 1.2400

USD/JPY

USD/JPY bounced from the level near 131.28 and currently hanging near the previous week’s high. The pair might continue trading sideways near the high while waiting for the catalyst to move. If the pair resume the bearish movement and close below 131.28 then it might target the trendline and the blue box area.

Today’s critical levels to watch:

Support: 131.28, 130.00, 126.00

Resistance: 135.00, 135.19

AUD/USD

AUD/USD made an attempt to return above 0.7000 yesterday but failed. The pair currently moving upward and making another attempt to move above the resistance level. if the pair managed to close above 0.7000 then we might see an extension toward 0.7160 and the daily SMA 200.

Today critical levels to watch:

Support: 0.7000, 0.6820, 0.6750

Resistance: 0.7160, 0.7300