USDX (USD Index)

The bullish trend of the U.S dollar index finally turned bearish after last week’s CPI data. The index continues under bearish pressure and might extend the movement toward the daily SMA 200 and also the 105.00 – 105.50 area. Despite the situation, we might see bullish reactions in the index which could bring it up to the test 110.00 level.

If a close below 105.00 or a daily SMA 200 happens then the trend might be changed to bearish for the long term.

EUR/USD

EUR/USD continue moving upward and reached the 1.0339 resistance level as expected after the breakout above the parity level. The pair will soon test the daily SMA 200 and traders will monitor the reactions. If the pair get rejected with strong bearish reactions then it might move lower to target the parity level.

Today’s critical levels to watch:

Support: 0.9500

Resistance: 1.0000, 1.0339

GBP/USD

GBP/USD is on the path upward to target the 1.2000 – 1.2200 area. The pair bounced from the 1.1450 level as expected and now traders will wait for the reactions near the resistance level. If the pair get rejected and start moving lower then traders will observe the pair reactions near the 1.1450 support level.

Today’s critical levels to watch:

Support: 1.0500, 1.0000

Resistance: 1.1450, 1.2000, 1.2100, 1.2200

USD/JPY

USD/JPY was mostly bearish and reached the 139.30 support level. The pair show a bullish reaction today and might start an upward movement toward the 145.00 and 150.00 levels. Traders could enter long positions near the current level with a stop below 135.50. We think as long as the pair does not print a new lower low, there is a chance of bullish continuation.

Today’s critical levels to watch:

Support: 140.00, 139.30, 135.19, 135.00

Resistance: 145.00, 150.00

AUD/USD

AUD/USD trading near the 0.6700 resistance level after the movement above the 0.6500 resistance level. The pair might extend the upward movement to target 0.7000 and daily SMA 200. In the long-term view, the pair needs to close above 0.7160 to print a new higher high and confirm a long-term bullish reversal.

Today’s critical levels to watch:

Support: 0.6500, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000