USDX (USD Index)

U.S dollar index settled between 94.00 – 94.30 area last week and maintain its bullish trend. The index might continue moving upward and target the 95.00 resistance level this week. However, if a bearish correction happens then a retest on 93.00 might happen.

EUR/USD

EUR/USD stick near the 1.1580 support level but no major bullish reaction. The pair might continue trading sideways near the level with a bearish bias. If the pair continues moving lower then 1.1500 and 1.1360 are the bearish targets to watch. On the upside, 1.1710 is the level to observe for short positions.

Today critical levels to watch:

Support: 1.1500, 1.1360

Resistance: 1.1580, 1.1710, 1.1820, 1.2000, 1.2070

GBP/USD

GBP/USD closed the week near the 1.3600 level. No change to the bearish outlook yet as long as the pair maintain the close below daily SMA 200. On the upside, if a close above daily SMA 200 happens then it could cancel the current bearish scenario below 1.3600.

Today Critical level to watch:

Support: 1.3450

Resistance: 1.3600, 1.3835

USD/JPY

USD/JPY made a close above 112.00 last week and the pair resume its bullish movement at the beginning of the week. There is no stop to the current bullish movement yet and the pair is expected to target 114.50 and 115.00 resistance levels. Traders might want to continue to avoid short positions for now.

Today critical levels to watch:

Support: 112.00, 111.00, 110.00

Resistance: 113.00, 114.50

AUD/USD

AUD/USD closed the week between 0.7300 – 0.7330 area. There is no major reaction yet from the area which means the consolidation will continue. Traders will continue waiting for a close above 0.7330 or below 0.7160 for confirmation of the next direction.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330, 0.7450, 0.7500