USDX (USD Index)

U.S dollar index fell below the 100.00 level and looks ready to resume the bearish trend. As planned before, the bullish correction movement might have completed and now is the time to aim for lower level in the index. However, if the index starts another bullish correction, then 103.00 – 103.74 might be attainable. Traders who has entered short positions in U.S. dollar when the index near 101.79 will continue to hold the positions with stop order near break-even level.

EUR/USD

EUR/USD closed near the 1.1360 level, which is confirmation level for bullish continuation. However, the pair has not breakout above the 1.1300 – 1.1360 area with strong momentum yet. If the pair could continue the bullish movement this week, then traders will expect an attempt to print a new higher swing high. On the other hand, if the pair turn lower from the current level, then it might target 1.1000 support level again.

Today’s critical levels to watch:

Support: 1.1185, 1.1000

Resistance: 1.1300, 1.1360, 1.1500, 1.1580

GBP/USD

GBP/USD breakout and close above 1.3450 level also printed new higher swing high. It is a confirmation that the pair will continue the bullish movement to target 1.3600 level next. If the pair turn lower and retest 1.3450 level, then traders could use the chance to enter long positions on bullish reactions. If there is no change to the bullish situation, then the pair could target 1.4000 level in the long-term.

Today’s critical levels to watch:

Support: 1.3450, 1.3330, 1.3300

Resistance: 1.3600

USD/JPY

USD/JPY resume the bearish movement as it break out below the trend line. The pair will target the 142.00 and 140.00 level also print new lower swing low. On the upside, if a bullish correction happens, then traders could use the 145.00 resistance level as a place to look for short positions on bearish reactions. On the lower side, 134.74 could become the major bearish target to watch.

Today’s critical levels to watch:

Support: 142.00, 140.00, 138.00

Resistance: 145.00, 149.20, 150.00

AUD/USD

AUD/USD made a bullish close near the top of green box area. The pair mostly bullish and we might see breakout above the green box area soon. Traders will use each bearish correction in the pair as a chance to enter more long positions. However, if a major bearish reaction happen near the current level, then it might chance the overall outlook for short-term.

Today’s critical levels to watch:

Support: 0.6350, 0.6250, 0.6000

Resistance: 0.6500, 0.6700