USDX (USD Index)

U.S dollar index attempted to breakout above 92.00 resistance level. However, the index gets rejected and closed the day as a bearish pin bar pattern. If the index moves lower and confirms the pattern and closes below the previous week’s low then traders will expect further bearish correction toward the blue box area.

On the other hand, if the index could close above 92.00 then traders will prepare for further upside to test daily SMA 200 and 93.00.

EUR/USD

EUR/USD rejection from the 1.2000 resistance level brought the pair lower. We think the pair will continue moving down and test the daily SMA 200 also the 1.1820 support level. As long as there is no breakout from the 1.1820 – 1.2200 area then the pair will continue moving inside the range.

today critical levels to watch:

Support: 1.1820

Resistance: 1.2000, 1.2070, 1.2200

GBP/USD

GBP/USD was rejected from the 1.4000 resistance level and tested the 1.3835 support level. The pair has not breakout from the 1.3835 – 1.4000 area. Without any breakout, traders will assume that the pair will continue its ranging movement for now.

Today Critical level to watch:

Support: 1.3835, 1.3600

Resistance: 1.4000, 1.4325

USD/JPY

USD/JPY sideways movement continues without any strong momentum. The pair currently is waiting for a trigger to move. It could either continue moving upward and reach 110.00 or start a bearish correction toward 108.00 and 106.70. At the current time, traders will wait for a bearish correction for a chance to enter long positions.

Today critical levels to watch:

Support: 108.00, 106.70

Resistance: 110.00

AUD/USD

AUD/USD rejected from the 0.7800 resistance level. The pair attempted to move lower but it is supported at 0.7750. At the current time, the pair range continues to span between 0.7750 – 0.7800, and traders will wait for a breakout.

Today critical levels to watch:

Support: 0.7750, 0.7700, 0.7640, 0.7550, 0.7500

Resistance: 0.7800, 0.8000