USDX (USD Index)

There is no stop to the bullish movement of the U.S dollar index yet. On the upside, 96.70 is the nearest resistance. We think the index will target 97.50 next and build more bullish pressure to target the 100.00 psychological level. Under the current situation, traders might want to avoid shorting the U.S dollar until a major bearish reaction is formed.

EUR/USD

EUR/USD continues its bearish movement to target 1.1185 and 1.1120 levels. On the lower side, 1.1000 is the level to watch for possible bounce reactions. If the pair managed to reach the 1.1300 – 1.1360 area then traders could consider short positions on bearish reaction.

Today critical levels to watch:

Support: 1.1185, 1.1120, 1.1000

Resistance: 1.1300, 1.1360

GBP/USD

GBP/USD continues printing lower low on the chart after the rejection from 1.3450. The trend is bearish and traders will continue to avoid long positions for now. A close above 1.3600 or the daily SMA 200 might change the overall trend. At the current time, the pair is expected to continue lower and target a 1.3250 support level.

Today Critical level to watch:

Support: 1.3330, 1.3300, 1.3250, 1.3000

Resistance: 1.3450, 1.3600, 1.3835, 1.4000

USD/JPY

USD/JPY bounced from 114.50 level and formed another bullish close yesterday. The pair is set to continue its bullish movement and target the 115.90 resistance level. No change to the bullish outlook yet and traders will continue to avoid short positions for now until a major bearish reaction formed.

Today critical levels to watch:

Support: 114.50, 113.00, 112.00

Resistance: 115.00, 115.90

AUD/USD

AUD/USD fell below 0.7300 – 0.7330 and continue the bearish movement. The pair expected to target 0.7160 and attempt to breakout below it. Traders could use the 0.7160 support level as the place to enter speculative long positions. On the upside, if a bounce happens then 0.7300 – 0.7330 is the area to look for short positions.

Today critical levels to watch:

Support: 0.7160

Resistance: 0.7300, 0.7330