USDX (USD Index)

The upward movement of the U.S dollar index seems will continue before the Fed FOMC meeting next week. Despite the situation, traders will prepare for a sudden bearish reversal if there is no higher high printed on the chart. Under the current situation, it is better to stay sideline and await for the interest-rate announcement.

EUR/USD

EUR/USD stick near the parity level without major reaction yet. The pair might continue trading sideway until next week’s FOMC meeting. We still think a bearish movement with strong momentum will happen to clear the stop level below parity. However, if the pair start a new bullish movement then 1.0339 will become the upward target.

Today’s critical levels to watch:

Support: 1.0000

Resistance: 1.0339

GBP/USD

GBP/USD moves lower and prints a new lower low today. The pair might continue the bearish movement and continue printing a new lower low. If the pair could close the week above 1.1450 then there is a chance of a bullish reversal toward the 1.2000 – 1.2200 area. Traders better wait sideline and observe the reaction after the Fed FOMC meeting next week.

Today’s critical levels to watch:

Support: 1.1450

Resistance: 1.2000, 1.2100, 1.2200

USD/JPY

USD/JPY hanging near the high but no higher high printed yet. The pair will continue to stick near the high and attempt to print a new higher high next week. If the pair start a bearish correction then it is a chance for traders to enter long positions at a lower level. Under the current situation, it is better to wait for a bearish correction to enter long positions.

Today’s critical levels to watch:

Support: 140.00, 139.30, 135.19, 135.00

Resistance:

AUD/USD

AUD/USD move lower below 0.6700 and print a new lower low. Despite the bearish situation, the bearish pressure is not strong and the pair might close the week near 0.6700. The pair might continue trading sideline until next week’s FOMC meeting. Traders will monitor the pair reaction near 0.6700 for now.

Today’s critical levels to watch:

Support: 0.6820, 0.6750, 0.6700

Resistance: 0.7000, 0.7160, 0.7300