USDX (USD Index)
U.S dollar index bounced from the 110.00 handles yesterday. There is no bullish follow-through in today’s trading session. The index might settle near the 110.00 level and consolidate near it. Traders will continue to observe the index reactions at the 110.00 support level. If the index breakout and closes below 110.00 then we might see a bearish continuation toward 107.50.
EUR/USD
EUR/USD managed to close above the parity level but the pair pushed lower and closed below it yesterday. The situation might become bearish if the pair continues moving lower. At the current time, the pair is trading near yesterday’s low and will attempt to close near the parity level. If the pair could close above the parity level at the end of the week then there is a chance of a bullish continuation toward 1.0339.
Today’s critical levels to watch:
Support: 0.9500
Resistance: 1.0000, 1.0339
GBP/USD
GBP/USD has closed above the 1.1450 level and currently building more bullish pressure. The pair might turn lower to retest the breakout 1.1450 level. Traders will observe the pair reactions near the level. If the pair could bounce from the level then traders could enter long positions with 1.2000 – 1.2200 as an upward target.
Today’s critical levels to watch:
Support: 1.0500, 1.0000
Resistance: 1.1450, 1.2000, 1.2100, 1.2200
USD/JPY
USD/JPY bounced from the 145.00 level and currently moving upward. The pair might consolidate inside the 145.00 – 150.00 area and traders will wait for a breakout and close outside of the area to confirm the next direction. If the pair closes lower then it could continue lower to target the 139.30 – 140.00 area.
Today’s critical levels to watch:
Support: 140.00, 139.30, 135.19, 135.00
Resistance: 150.00
AUD/USD
AUD/USD get rejected from the 0.6500 resistance level and there is bearish follow-through today. Despite the situation, the pair situation might be neutral as it is trading near the weekly opening level. If the pair could continue the upward movement then it will target the 0.6700 resistance level.
Today’s critical levels to watch:
Support: 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000