USDX (USD Index)

Bearish close on Friday followed by another mini bearish close on Monday. In the end, there is no direction settled yet for U.S dollar index. It is possible for the index to continue the bearish move toward support 93.00 or the up trendline. On the other hand, U.S dollar index also could continue further upside above 94.00 without any retracement.

News to watch

04.30 UK AM Manufacturing Production, estimated an increase of 0.2% monthly.

Technical Analysis

EUR/USD

EUR/USD is following the movement guideline inside 1.1710 – 1.1820 as expected. The pair is currently moving up after 1.1710 test. Traders could expect the pair will face resistance at 1.1820 and reverse down to continue its sideway movement.

Today critical level to watch:

Support: 1.1710

Resistance: 1.1820, 1.1900, 1.1925, 1.2000

GBP/USD

GBP/USD halted its drop near the 1.3000 support and attempted to move up. The upward movement of the pair might hit resistance 1.3250 and reverse downside. The resistance level is the best level to look for a short position with a target at least 1.3000 and stop order 50-100 pip above it.

Today critical level to watch:

Support: 1.3000

Resistance: 1.3250, 1.3300, 1.3342, 1.3400

USD/JPY

USD/JPY maintain its bullish outlook, but the pair has yet to leave 112.50 upsides. Instead, the pair continues stick near the support level and test it. If the bull could push the price up and close it above 113.20, it will trigger buying toward 114.50.

Today critical level to watch:

Support: 112.50, 112.00, 111.60, 111.00, 110.50

Resistance: 113.20, 114.50

AUD/USD

The bullish reaction is shown on AUD/USD daily chart as the pair bounce from 0.7690 – 0.7750 support area. Although the pair looks will bounce, it is too early to say the bounce is valid as candlestick has not closed yet. Traders could continue monitor price reaction near 0.7800 – 0.7810 for short position.

Today critical level to watch:

Support: 0.7750, 0.7690

Resistance: 0.7800, 0.7875, 0.7900, 0.7970