USDX (USD Index)

The bullish attempt of the U.S dollar index managed to break above the 94.30 resistance level but not close above the resistance level yet. At the current time, the U.S dollar index is under pressure and testing the 94.00 level. Will the index breakout lower and target the 93.00 support level again? Alternatively, will it resume the bullish movement and target the 95.00 resistance level?

EUR/USD

EUR/USD made a close below 1.1580 level last week and proceed lower toward 1.1500. There was no touch on the support level and the pair currently trading upward above 1.1580. We still think the bearish trend of EUR/USD will continue and if the pair managed to reach 1.1710 then traders could consider short positions.

Today critical levels to watch:

Support: 1.1500, 1.1360

Resistance: 1.1580, 1.1710, 1.1820, 1.2000, 1.2070

GBP/USD

GBP/USD broke out below the 1.3600 support level and resume the bearish movement. The pair tested the 1.3450 support level and there is a major bullish reaction. As long as the pair stays below the 1.3600 level, then the bearish trend is expected to continue. On the upside, a close above daily SMA 200 could overturn the bearish trend.

Today Critical level to watch:

Support: 1.3450

Resistance: 1.3600, 1.3835, 1.4000

USD/JPY

USD/JPY could not continue its bullish movement above the 114.50 resistance level. The pair is slowly trading lower and might target the 112.00 support level. As mentioned in the previous analysis, if the pair managed to reach 112.00 then traders could consider entering long positions after a bullish reaction.

Today critical levels to watch:

Support: 113.00, 112.00

Resistance: 114.50, 115.00

AUD/USD

AUD/USD bearish movement happened after the rejection from the daily SMA 200. The pair closed below the orange box area and set to target 0.7300 – 0.7330 area. At the current time, the pair might consolidate between 0.7300 – 0.7330 area and 0.7450 – 0.7500 area waiting for a clue on the next direction. On the upside, a close above daily SMA 200 is needed to confirm bullish continuation. On the other hand, a breakout below 0.7160 is a confirmation of long-term bearish continuation.

Today critical levels to watch:

Support: 0.7450, 0.7330, 0.7300

Resistance: 0.7500, 0.7550