USDX (USD Index)

U.S dollar index is currently undergoing a bearish correction toward the 100.00 – 100.30 support area. There is no bearish continuation yet and the index seems trading sideway. Traders will continue waiting for the index to continue the bearish correction and reach the support area for a chance to enter long positions in the U.S dollar.

EUR/USD

EUR/USD maintains the positions above the 1.0650 support level but has no bullish continuation toward the 1.0800 and 1.1000 resistance levels yet. The pair mostly trading sideway now near the 1.06500. Similar to the U.S dollar index situation, traders will wait for the pair to continue moving upward and test the resistance level. When the pair formed a major bearish reaction, traders could enter short positions.

Today’s critical levels to watch:

Support: 1.0650, 1.0339, 1.0000

Resistance: 1.0800, 1.0900

GBP/USD

GBP/USD is testing the 1.2625 resistance level and is mostly sideways today near the opening level. The pair might close the week near the resistance level and wait for further reaction next week. Will the pair continue the bullish movement toward the 1.2800 and 1.3000 resistance levels next?

Today Critical level to watch:

Support: 1.2500, 1.2400, 1.2200, 1.2100, 1.2000

Resistance: 1.2625, 1.3000

USD/JPY

USD/JPY breakout below the 23.6 Fibonacci Retracement level but no bearish continuation below the level yet. The pair is expected to continue the bearish movement toward the trendline and the blue box area. Traders will wait for the support levels test for the chance to enter long positions.

Today’s critical levels to watch:

Support: 126.00, 125.00, 120.00

Resistance: 130.00

AUD/USD

AUD/USD extends the bullish movement today and reach the 0.7160 resistance level. The upward movement has moderate bullish momentum which means AUD/USD might continue moving upward next week. Traders will continue waiting for a bearish reaction at the 0.7160 and the daily SMA 200 for chance to enter short positions.

Today critical levels to watch:

Support: 0.7000, 0.6820, 0.6750

Resistance: 0.7160