USDX (USD Index)

We have a higher high printed on the U.S dollar index chart. The index seems will continue its bullish movement toward the 95.00 resistance level. Similar to the previous analysis, traders will avoid short positions in the U.S dollar and continue to hold long positions until a major bearish reversal happen.

EUR/USD

The only direction of the pair is bearish for now. There is a lower low printed today and the pair is set to target the 1.1500 support level. If the pair make a bullish correction then traders could use 1.1580 and 1.1710 as level to enter short positions. Traders better avoid long positions until a major bullish reversal happen.

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 could not breakout above the 1.3600 resistance level as the pair formed a more bearish pin bar pattern. The pair is currently under pressure but continues to maintain positions near the resistance level. If the pair start moving lower with strong bearish momentum then bearish continuation below 1.3600 – 1.4000 area will resume.

Today Critical level to watch:

Support: 1.3450

Resistance: 1.3600, 1.3835

USD/JPY

USD/JPY is unstoppable after the previous day’s bullish close. The pair moving upward and soon will reach the 114.50 – 115.00 resistance level. As the bullish movement has strong momentum, traders might want to avoid short positions until a major bearish reversal happen.

Today critical levels to watch:

Support: 112.00, 111.00, 110.00

Resistance: 113.00, 114.50

AUD/USD

AUD/USD managed to close above 0.7300 – 0.7330 area yesterday. We might have initial confirmation of bullish continuation toward the 0.7450 – 0.7500 area. Traders will wait for a further reaction from the 0.7450 – 0.7500 area. If the pair close below the area again then the bearish trend might continue.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330, 0.7450, 0.7500