USDX (USD Index)

U.S dollar index bounced from the 110.00 support level and traded upward. The index might maintain a position above 110.00 until this week’s FOMC meeting. The index’s next direction will depend on the market reactions after the meeting. If the index breakout and closes below 110.00 at the end of the week then we might see a medium-long-term trend change.

EUR/USD

EUR/USD closed below the parity level at the end of the week which means no confirmation of a bullish trend yet. The pair might stick near the parity level until this week’s FOMC meeting. Traders will observe the closing level of the pair at the end of the week to confirm the next direction.

Today’s critical levels to watch:

Support: 0.9500

Resistance: 1.0000, 1.0339

GBP/USD

GBP/USD maintains the positions above the 1.1450 level and will attempt to extend the bullish movement. If the pair start moving lower then 1.1450 will become the support level to watch. Traders could enter long positions when the pair show bullish reactions or maintain the close above it until the end of the week.

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 start moving upward again. If there is no change to the situation then the pair could continue moving upward to test the 150.00 resistance level. Traders will observe the pair reactions inside the 145.00 – 150.00 area for now while waiting for the breakout and close outside of the area.

Today’s critical levels to watch:

Support: 140.00, 139.30, 135.19, 135.00

Resistance: 150.00

AUD/USD

AUD/USD closed lower for two days after it reached the 0.6500 resistance level. The pair might maintain the current level until the Fed FOMC meeting at the end of this week. If the pair could move upward and close above 0.6500 then it will extend the bullish correction toward 0.6700.

Today’s critical levels to watch:

Support: 0.6000

Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000