USDX (USD Index)
Traders are awaiting the announcement of the U.S interest rate by the Fed this week. Under the current situation, the U.S dollar index continues to maintain the bullish pressure and start moving upward. Consensus sees a 75 bps rate-hike which means a 50 bps rate-hike is negative for the U.S dollar index.
No clue yet what the Fed will do, it is better to wait at the sideline until the actual announcement before deciding on major positions.
EUR/USD
EUR/USD pushed lower below the parity level and might continue trading below it until this week’s FOMC meeting. The next direction might depend on where the pair close at the end of the week. A close above the parity level will confirm a bullish continuation. Meanwhile, a strong bearish close after the FOMC meeting will confirm a bearish continuation.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD was slightly lower and manage to reach the 1.1450 support level. The pair might consolidate near the level until this week’s FOMC meeting. If the pair could maintain the level and bounce upward from the 1.1450 support level then there is a chance of continuation toward the 1.2000 – 1.2200 area.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY traded lower in today’s trading session, however, the bearish pressure cease slowly. The pair regain the loss and start moving upward to the opening level. USD/JPY might continue trading between the 145.00 – 150.00 area and traders will use the range to do a range trading strategy until a breakout and close outside of the range happen.
Today’s critical levels to watch:
Support: 145.00, 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD trading upward and almost reach the 0.6500 resistance level. The pair, however, lost bullish pressure and back to the opening level. At the current time, the pair is under bearish pressure but might close the day near the opening level. Traders will continue to monitor the pair movement until the FOMC meeting this week.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000