USDX (USD Index)

U.S dollar index reached the 94.00 – 94.30 area as Donald Trump lead over Biden yesterday. However, the upward movement reversed and the index currently testing the 92.60 support level. The event happened as Joe Biden only 6 votes away from winning the presidential election.

We expect the index to continue under bearish pressure for now.

EUR/USD

EUR/USD closed above 1.1710 and extended its bullish movement today. At the current time, the pair has climbed above the 1.1820 and targeting to close above it. If the pair could close above 1.1820 then traders will expect further bullish movement toward 1.2000.

today critical levels to watch:

Support: 1.1710, 1.1580, 1.1500

Resistance: 1.1820, 1.2000

GBP/USD

GBP/USD rejected from the 1.3125 resistance level and closed near the 1.3000 level yesterday. The current trade higher but contained inside the previous day range. Despite the situation, we think the pair could continue its bullish movement and target the 1.3250 resistance level.

Today Critical level to watch:

Support: 1.3050, 1.3000, 1.2800, 1.2625

Resistance: 1.3125, 1.3250

USD/JPY

USD/JPY finally breakout below 104.00 support level and set to continue its bearish trend toward 101.50 and 100.00. Traders might want to get out of long positions for now. Short positions could be considered when the pair make a bullish correction toward 104.00.

Today critical levels to watch:

Support: 101.50, 101.19

Resistance: 104.00, 105.00, 106.00, 106.70

AUD/USD

AUD/USD closed near the 0.7160 resistance level yesterday. The pair continues its bullish movement and on the path upward to the 0.7300 – 0.7330 area. Under current bullish pressure, we might see AUD/USD breakout higher and target 0.7450 – 0.7500.

Today critical levels to watch:

Support: 0.7160, 0.7000, 0.6820

Resistance: 0.7300, 0.7330