USDX (USD Index)

U.S dollar index closed below 94.00 and extended it’s bearish close yesterday. The pair attempt to move higher and tested the 94.00 resistance today. No breakout above the resistance level yet. If the index could close above 94.00 or 94.30 at the end of the week then traders will expect a further bullish continuation in the coming week.

EUR/USD

EUR/USD made a bullish close yesterday above 1.1710. However, the bullish pressure has turned bearish today as President Trump announced positive for coronavirus. The pair will attempt to maintain its position above 1.1710. If the pair closed below 1.1710 then we might see a bearish continuation toward 1.1450 – 1.1500.

today critical levels to watch:

Support: 1.1710, 1.1600, 1.1580

Resistance: 1.1820, 1.2000

GBP/USD

GBP/USD whipsawing inside the 1.2800 – 1.3000 area. The pair almost reach both levels in the previous trading day. Today, the pair continues its ranging movement inside the previous day range. No conclusion yet on the next direction. On the upside, the pair need a close above 1.3000 to continue its long-term bullish trend.

On the other hand, GBP/USD will resume its bearish movement if the pair could close below 1.2800 and daily SMA 200.

Today Critical level to watch:

Support: 1.2800, 1.2625

Resistance: 1.3000, 1.3050

USD/JPY

USD/JPY pressured lower today and manage to reach 105.00 support level. At the current time, the pair is slightly higher after the test. If the pair could maintain the close above 105.00 then there is a chance for further bullish continuation toward 106.70.

Today critical levels to watch:

Support: 105.00, 104.00, 101.50, 101.19

Resistance: 106.0, 106.70

AUD/USD

AUD/USD has reached the 0.7160 resistance level and closed above it yesterday. The pair currently show a bearish reaction and attempting to make a close below the previous day low. If the bearish close below the previous day low happens then AUD/USD set to restart its bearish pressure toward 0.7000 and 0.6820.

Today critical levels to watch:

Support: 0.7000, 0.6820

Resistance: 0.7160, 0.7300, 0.7330