USDX (USD Index)

U.S dollar index printed a lower low in today’s trading session. The index is set to target the 93.00 support level and 92.60 if there is no change in the sentiment. At the current time, the market seems optimistic about the U.S stimulus deal. If the stimulus deal reaches an agreement then the U.S dollar index will continue under pressure.

On the other hand, if there is no stimulus then we might see the U.S dollar index reverse and attempt to close above 94.00 – 94.30 area.

EUR/USD

EUR/USD building up bullish pressure and currently trading near the 1.1820 resistance level. The pair will attempt to break out above the resistance level and target 1.2000 resistance level. However, if there is a major bearish reaction from the 1.1820 resistance then traders will expect the pair to continue its ranging movement between 1.1710 – 1.1820.

today critical levels to watch:

Support: 1.1710, 1.1600, 1.1580

Resistance: 1.1820, 1.2000

GBP/USD

GBP/USD has not confirmed the bearish engulfing pattern by a lower close below it. The pair has moved higher for two days and currently attempting to extend the bullish movement. On the upside, 1.3000 is the resistance level to watch. Without a close above the level, GBP/USD will set to move lower and retest 1.2800 again.

Today Critical level to watch:

Support: 1.2800, 1.2625

Resistance: 1.3000, 1.3050

USD/JPY

USD/JPY made another bullish close yesterday, though not a strong one. The pair might continue its bullish movement toward the 106.70 resistance level. However, the bear seizes the control and push the pair below yesterday low. If the pair could add more bearish pressure then we might see another bearish attempt toward 105.00.

Today critical levels to watch:

Support: 105.00, 104.00, 101.50, 101.19

Resistance: 106.0, 106.70

AUD/USD

AUD/USD stick near the 0.7160 resistance level and currently surpass it. The pair show no bearish reaction from the resistance level and might be able to continue its bullish movement to target 0.7300 – 0.7330 area. Traders might want to avoid short positions until the pair make a bearish close below 0.7160 again.

Today critical levels to watch:

Support: 0.7000, 0.6820

Resistance: 0.7160, 0.7300, 0.7330