USDX (USD Index)
The weakness was seen on Monday trading session, but the downward movement of the U.S dollar index immediately reverse when 96.70 tested. Currently, the index significantly higher above the level and surpass the Friday close. If the bull could close the index above Friday high then we have bullish confirmation and the index will head to 97.50 resistance.
News to watch
For full outlook for this week, you can follow Forex Outlook For The Week 26 – 30 November 2018
Technical Analysis
EUR/USD
No easy way for the bull in EUR/USD after the pair slide back below 1.1360 after maintaining the level above it the whole day. The pair might continue lower to test 1.1300 if the bear gets a close below 1.1360. However, the bull still has a chance to reverse the EUR/USD trend into bullish by making sharp bounce from 1.1300 support level.
Today critical level to watch:
Support: 1.1300, 1.1200, 1.1120
Resistance: 1.1360, 1.1500, 1.1580
GBP/USD
GBP/USD stick at equilibrium after Euro27 agree to Brexit deal. The pair has cleared the first hurdle, but the wall still high for the country to pass the agreement between Euro and UK. GBP/USD might continue its sideways movement near the level until decision reach on the UK side.
Today Critical level to watch:
Support: 1.2800, 1.2625
Resistance: 1.3000, 1.3050, 1.3125
USD/JPY
The pair jumped above 113.20 and headed to the top of triangle resistance. There is nothing to expect aside from the pair reach the top of the triangle. It is expected to continue trading inside the triangle pattern at least until December The Fed rate decision.
Today critical level to watch:
Support: 113.20, 113.00, 112.50, 112.00
Resistance: 114.50, 115.00
AUD/USD
AUD/USD stage a convincing rally at the start of the day, moving past Friday high. The problem is, the pair losing altitude in U.S session and pushed down to its opening level. The situation looks bearish at the current time and tomorrow we might see further selling below the daily low.
Today critical level to watch:
Support: 0.7200, 0.7160, 0.7100
Resistance: 0.7300, 0.7330