USDX (USD Index)

U.S dollar index managed to maintain the positions above 92.00 but no higher high printed on the chart. It is only a matter of time the index will resume its bearish movement and breakout below 92.00. The break and close below 92.00 will become a long-term confirmation of the bearish trend.

EUR/USD

EUR/USD bounced and closed above 1.1820 which means the pair could continue its bullish trend. However, there was no higher high printed last week. The pair will continue waiting for more bullish momentum to eventually continue its bullish movement toward 1.2000.

today critical levels to watch:

Support: 1.1820, 1.1710, 1.1580

Resistance: 1.2000

GBP/USD

GBP/USD breakout above 1.3300 – 1.3330 area today. The pair move upward with strong bullish momentum and soon will reach the 1.3450 resistance level. We think the pair will test the 1.3450 then continue toward 1.3500 before major bearish correction.

Today Critical level to watch:

Support: 1.3330, 1.3300, 1.3250

Resistance: 1.3450, 1.3500

USD/JPY

USD/JPY on the path lower to test the previous swing low. The pair maintain the level below 104.00 and expected to resume its bearish trend. Trades will target 101.50 and 100.00 support level if the pair has moved below the previous swing low.

Today critical levels to watch:

Support: 101.50, 101.19

Resistance: 104.00, 105.00, 106.00, 106.70

AUD/USD

AUD/USD keep testing the 0.7300 – 0.7330 area currently. No breakout above the resistance level yet but we think a breakout will happen soon. If a bullish breakout happens then traders will expect AUD/USD to continue upward and target 0.7450 and 0.7500 resistance levels.

Today critical levels to watch:

Support: 0.7300, 0.7160

Resistance: 0.7330, 0.7450, 0.7500