USDX (USD Index)

U.S dollar index managed to print a bullish close yesterday. However, the index closed between the 92.60 – 93.00 area. It attempted to move higher above 93.00 but experience rejection from the resistance level. It seems we will have a close inside the 92.60 – 93.00 area and further bearish continuation next week.

A close below 92.60 will become the confirmation that the index will continue lower.

EUR/USD

EUR/USD closed lower but managed to close near the 1.1820 level. The pair supported by the level today and make a bullish bounce from it. If the pair could close the day above the previous day high then EUR/USD expected to continue its upward movement to target 1.2000.

today critical levels to watch:

Support: 1.1820, 1.1710

Resistance: 1.2000

GBP/USD

GBP/USD consolidates between 1.3050 – 1.3125 area after the major bullish bounce. The pair tested the 1.3050 level today and show a bullish reaction. We think the index will continue its bullish movement and target the 1.3250 resistance level next.

Today Critical level to watch:

Support: 1.3000, 1.2800, 1.2625

Resistance: 1.3050, 1.3125, 1.3250

USD/JPY

USD/JPY has fallen below the 105.00 support level and currently on the path toward 104.00. If the bearish pressure continue to mount and the pair makes a lower low below the September low then traders will prepare for long-term bearish continuation toward 101.50 or 100.00

Today critical levels to watch:

Support: 104.00, 101.50, 101.19

Resistance: 105.00, 106.00, 106.70

AUD/USD

AUD/USD managed to reach the 0.7160 resistance level today. The pair might continue its upward movement next week and breakout toward the 0.7300 – 0.7330 area. There is little chance that a major bearish reaction might happen from the 0.7160 resistance level. However, if the bearish reaction happens then traders might expect another retest on 0.7000.

Today critical levels to watch:

Support: 0.7000, 0.6820

Resistance: 0.7160, 0.7300, 0.7330