USDX (USD Index)

The upward movement of the U.S dollar index halted yesterday and no higher close above Friday high happen. The index might be supported by 98.25 support levels and expected to continue to stay above it. At the current time, traders will wait for further reaction from the support level.

News to watch

11.00 AM U.S CB Consumer Confidence, forecast reading of 126.9

For full outlook for this week, you can follow Forex Outlook For The Week 25 – 29 November 2019

EUR/USD

The pair has not shown a major response near the 1.1000 support level. EUR/USD might stick near the level while waiting for a trigger to move. Traders could look for long positions near the current level with a tight stop below the low formed in the middle of the month.

today critical levels to watch:

Support: 1.1000, 1.0900

Resistance: 1.1120, 1.1185

GBP/USD

GBP/USD has not left the 1.2800 – 1.3000 range yet and expected to continue its ranging movement inside the range. Traders could continue to apply ranging strategies for now similar to the previous analysis.

Today Critical level to watch:

Support: 1.2800, 1.2625, 1.2600, 1.2500

Resistance: 1.3000

USD/JPY

USD/JPY stuck near 109.00 also SMA 200 and attempting to surpass both resistances. However, the upward attempt receives rejection today and the pair currently traded near its opening level. We might see the pair losing more ground later. Traders could look for short positions with a stop above today’s high.

Today critical levels to watch:

Support: 107.40, 107.00

Resistance: 109.00, 110.00

AUD/USD

AUD/USD continues its journey lower and there is no change to the direction yet. Traders will continue to hold short positions with the expectation that AUD/USD will reach 0.6750.

Today critical levels to watch:

Support: 0.6750, 0.6700

Resistance: 0.6800, 0.6820, 0.6900