Forex Technical Major Pairs analysis March 25, 2020

USDX (USD Index)

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The index looks will start a bearish correction with 100.00 handle as a target. Yesterday, the index move lower below Monday low but managed to return above it before the end of day. Today, the bear make another bearish attempt. Will the index fall below Tuesday low and reach 100.00?

EUR/USD

EUR/USD bullish movement continue yesterday and almost touch the 1.0900 resistance. At the end of day, the pair return inside the Monday range. Today, there is a bullish attempt but has not move above Monday high. We think there is a chance the pair could reach 1.0900, 1.1000 and the daily SMA 200. However, if the pair could not move past Monday high then the pair might reverse and start moving lower.

today critical levels to watch:

Support: 1.0650, 1.0500, 1.000

Resistance: 1.0900, 1.1000, 1.1120

GBP/USD

GBP/USD managed to print a bullish close yesterday and distanced itself from the 1.1450 support level. If the pair could maintain the bullish pressure then traders will expect the pair to reach 1.2000 – 1.2100 area. When the pair reach the area, traders could consider short positions.

Today Critical level to watch:

Support: 1.1500, 1.1000

Resistance: 1.2000, 1.2100

USD/JPY

USD/JPY continue maintain its altitude above 111.00 and suggesting further upside toward 112.00. There is no bearish sign which mean traders will avoid short positions for now. The safest trade, traders could take is a long positions after breakout and retest of 112.00 happen.

Today critical levels to watch:

Support: 111.00, 110.00, 108.00

Resistance: 112.00

AUD/USD

AUD/USD next direction will depend on the reaction at 0.6000. The pair currently testing the resistance level. If there is a major bearish reaction, traders could enter short positions with 0.5500 as the target.

Today critical levels to watch:

Support: 0.5500

Resistance: 0.6000, 0.6200

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