Forex Technical Major Pairs analysis March 26, 2020

USDX (USD Index)

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U.S dollar index pull-back almost reaches the 100.00 – 100.30 area. Traders will wait until the pair reach the support area and consider taking long positions in the U.S dollar when there is a bullish reaction. If the index could maintain the position above 100.00 then we expect the bullish continuation will surpass previous swing high of 102.99

EUR/USD

EUR/USD on the path higher, continuing its bullish correction. The pair might reach 1.1000 or the daily SMA 200. When the pair reach the resistances level, traders could observe the market reaction and take short positions. However, without any major bearish reaction, it is better to continue waiting sideline.

today critical levels to watch:

Support: 1.0650, 1.0500, 1.000

Resistance: 1.0900, 1.1000, 1.1120

GBP/USD

GBP/USD extended its bullish close and getting near 1.2000 – 1.2100 area. It is the Brexit low level and will become a tough level to break. Traders will prepare short positions near the level when there is a major bearish reaction.

Today Critical level to watch:

Support: 1.1500, 1.1000

Resistance: 1.2000, 1.2100

USD/JPY

USD/JPY closed above 111.00 and maintain its bullish pressure. However, the pair make bearish pullback today and reach the 111.00 support level. If there is no bullish reaction then the pair expected to continue its downward movement and target the daily SMA 200.

Today critical levels to watch:

Support: 110.00, 108.00

Resistance: 111.00, 112.00

AUD/USD

AUD/USD tested the 0.6000 resistance and formed a bearish pin bar pattern. The pair make bearish follow-through today below the previous day low. But, the bull pushes the price higher and currently AUD/USD trade near its opening level. We might see another 0.6000 tests soon.

Today critical levels to watch:

Support: 0.5500

Resistance: 0.6000, 0.6200

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