USDX (USD Index)

The bullish pressure in the U.S dollar index slowly recede and there is a bearish correction in today’s trading session. The bearish pressure manages to push the index below the previous day low. If the index continues moving lower then it will target 100.00 handles.

Traders could prepare for long positions near the 100.00 handle if the index manages to reach it.

EUR/USD

EUR/USD bounced from the 1.0650 support level and currently targeting 1.0900 – 1.1000 resistance level. On a higher level, there is daily SMA 200 to watch. At the current time, traders will let the price continue higher and test the resistance level. If there is a bearish reaction then traders could enter short positions.

today critical levels to watch:

Support: 1.0650, 1.0500, 1.000

Resistance: 1.0900, 1.1000, 1.1120

GBP/USD

GBP/USD could not lift itself from the 1.1450 support level. The price expected to continue its consolidation near the support level for now. If the pair manages to bounce and reach 1.2000 then traders will prepare to enter short positions when there is a bearish reaction.

Today Critical level to watch:

Support: 1.1500, 1.1000

Resistance: 1.2000, 1.2100

USD/JPY

USD/JPY initially move lower but manage to return to its bullish track before the close of yesterday’s trading session. The pair undergo bearish pressure again today and tested 110.00 support level. We think the pair will trade between 110.00 – 111.00 for now.

Today critical levels to watch:

Support: 110.00, 108.00, 107.00

Resistance: 111.00, 112.00

AUD/USD

AUD/USD on the upward path and soon will reach 0.6000 resistance level. The pair might get rejected near the resistance level and traders could enter short positions. At the current time, there is no confirmation yet. It is better to stay sideline and watch the market reaction.

Today critical levels to watch:

Support: 0.5500

Resistance: 0.6000, 0.6200