USDX (USD Index)

The bearish pressure on the U.S dollar index recede today and the index start moving higher. At the current time, the index is testing 92.60 and looking for a close above the level. If the index could close higher then it will target 93.00 resistance next.

Traders could assume the index will consolidate between 92.00 – 93.00 area until breakout happens.

EUR/USD

EUR/USD slightly lower today and testing the 1.1820 support level. The pair might stick near the 1.1710 – 1.1820 area for now while waiting for the trigger to move. A bearish correction might happen in the global market which could bring the pair down. However, we think the pair will continue moving upward after the correction is completed.

today critical levels to watch:

Support: 1.1820, 1.1710, 1.1580

Resistance: 1.2000

GBP/USD

GBP/USD failed to breakout above the 1.3300 – 1.3330 area. The pair currently trades lower below the 1.3250 level. If the bearish pressure continues then GBP/USD might continue lower to target 1.3125. We still think the pair could break out above the 1.3300 – 1.3330 area and continue its upward movement toward the 1.3450 – 1.3500 area.

Today Critical level to watch:

Support: 1.3125, 1.3050, 1.3000

Resistance: 1.3250, 1.3300, 1.3330

USD/JPY

USD/JPY closed below 104.00 and expected to continue its bearish movement toward 101.50 and 100.00 in the long-term. At the current time, the pair is building bullish pressure to return above 104.00. No rejection from the level yet. If the pair maintained the level below 104.00 then traders will continue to hold short positions.

Today critical levels to watch:

Support: 101.50, 101.19

Resistance: 104.00, 105.00, 106.00, 106.70

AUD/USD

AUD/USD could not break out above the 0.7300 – 0.7330 area. The pair get rejected and move below the previous day’s low. If the pair continues to add more bearish pressure then we might see the pair continue lower to test 0.7160. We are waiting for the breakout and close above 0.7330 for continuation toward 0.7450 – 0.7500. As long as there is no breakout and close above 0.7330, bearish continuation might happen toward 0.7000 again.

Today critical levels to watch:

Support: 0.7160, 0.7000, 0.6820

Resistance: 0.7300, 0.7330