USDX (USD Index)

U.S dollar index could not bounce upward and continue under bearish pressure. It seems only a matter of time, the index breakout lower and resume the bearish trend. On the lower side, 100.00 is the long-term bearish target. On the upside, the daily SMA 200 will become a resistance level to watch when a bullish correction happens.

EUR/USD

EUR/USD bounced from the level near 1.0800 and continue the upward movement. The pair is climbing above the latest swing high and is set to extend the bullish movement toward 1.1000. This week FOMC meeting will become the main driver for either bullish breakout above 1.1000 or major bearish rejection toward the daily SMA 200.

Today’s critical levels to watch:

Support: 1.0900, 1.0800, 1.0650

Resistance: 1.1000

GBP/USD

GBP/USD has reached the 1.3000 resistance level before the FOMC meeting. The pair might stall near the level and attempt to breakout higher after the interest-rate announcement. If the pair start a bearish correction, then traders could use the 1.2800 and daily SMA 200 as a place to add long positions.

Today’s critical levels to watch:

Support: 1.2800, 1.2625, 1.2200

Resistance: 1.3000

USD/JPY

USD/JPY bullish attempt experienced bearish rejection from the 150.00 resistance level. The pair is currently trading near the 149.20 level and might resume the bearish movement. At the current time, no confirmation yet on the pair next direction. If the pair resume the bearish trend, then it will target a new lower swing low.

Today’s critical levels to watch:

Support: 145.00

Resistance: 149.20, 150.00, 151.00, 151.80

AUD/USD

AUD/USD has moved out of the triangle consolidation area and now might continue the bullish movement toward 0.6500 and daily SMA 200. Despite the breakout, no new higher swing high printed on the chart yet, which mean the pair situation is neutral. We might see movement after the Fed interest-rate announcement this week.

Today’s critical levels to watch:

Support: 0.6250, 0.6000

Resistance: 0.6350, 0.6500, 0.6700