USDX (USD Index)

The bullish pressure on the U.S dollar index continues to build up after the bounce from the 98.40 support level. There is no major bearish reaction from the 99.40 resistance level. If the resistance level is broken to the upside then traders will expect a bullish continuation toward 100.00 and higher.

EUR/USD

EUR/USD is under bearish pressure but the pair managed to recover from the downward movement. At the current time, the pair is trading near the opening level and will attempt to close the day near 1.1000. If the pair continues moving lower with strong bearish momentum then it will target the 1.0800 support level.

Today critical levels to watch:

Support: 1.1000, 1.0900, 1.0800

Resistance: 1.1120, 1.1185

GBP/USD

GBP/USD rejection from the 1.3300 – 1.3330 resistance level brought the pair down with strong bearish momentum. Without any change in the current bearish situation, the pair is expected to retest the 1.3000 support level. A lower low below the 1.3000 support level is confirmation of the continuation of the bearish trend.

Today Critical level to watch:

Support: 1.3125, 1.3000

Resistance: 1.3250, 1.3300, 1.3330

USD/JPY

USD/JPY continues climbing with strong bullish momentum. The pair seems triggering a short squeeze today with the move toward 125.00. No change to the strategy, traders will continue waiting for a bearish correction to enter long positions near support levels.

Today critical levels to watch:

Support: 120.00

Resistance: 125.00

AUD/USD

AUD/USD currently trading inside the orange box area or the 0.7450 – 0.7550 area. The pair expected to consolidate inside the area and wait for a breakout. If the pair could print a close above the area then the long-term bullish trend is set to continue. On the other hand, a bearish breakout could trigger selling toward the 0.7300 – 0.7330 area.

Today critical levels to watch:

Support: 0.7450, 0.7330, 0.7300, 0.7160

Resistance: 0.7500, 0.7550