USDX (USD Index)

U.S dollar index under bearish pressure and fell below 100.00 handles. The index closed near 98.40 and the daily SMA 200 support level. This week, traders will observe the index movement between SMA 200 and 100.00. When a close outside of the range happens then the index might continue moving toward the breakout direction.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 30 March – 3 April 2020

EUR/USD

EUR/USD closed above daily SMA 200 at the end of the week and suggesting further bullish pressure. However, the pair slightly lower today and testing the averages. If the pair could maintain the positions above the averages by the end f week then traders will expect further bullish continuation.

On the other hand, a close below SMA 200 and 1.1000 will trigger bearish continuation.

today critical levels to watch:

Support: 1.1000, 1.0900, 1.0650

Resistance: 1.1120

GBP/USD

GBP/USD moderately higher above the Brexit low. The pair has more upward potential toward 1.2625 and SMA 200. At the current time, there is a bearish reaction but not a strong one. Traders could prepare to enter long positions near the 1.2000 – 1.2100 area.

Today Critical level to watch:

Support: 1.2200, 1.2100, 1.2000

Resistance: 1.2500, 1.2625

USD/JPY

USD/JPY dropped and closed below SMA 200. The pair currently mustering bullish pressure and attempt to move back above SMA 200. No conclusion yet where the pair will move next. As long as there is no strong bullish close above SMA 200 then USD/JPY will continue its bearish pressure toward 106.70.

Today critical levels to watch:

Support: 106.70

Resistance: 108.00, 110.00, 111.00

AUD/USD

AUD/USD closure above 0.6000 is a bullish sign. It might continue moving upward for the short-medium-term. When the pair reach stronger resistance, traders could start looking for short positions. 0.6300 and 0.6500 are the levels to watch.

Today critical levels to watch:

Support: 0.6000, 0.5500

Resistance: 0.6200, 0.6300, 0.6500