USDX (USD Index)

U.S dollar index was mostly bullish before the Fed interest-rate decision today. The upward movement of the index might print a new higher high and confirm a bullish continuation. However, there is a chance of bearish reversal too where the index starts moving lower to target a new lower low. Traders will monitor the market reactions after the Fed interest-rate announcement for now.

EUR/USD

EUR/USD trading lower and set to print a new lower low. The situation of the pair will continue to bearish and we expect the sharp bearish movement to trigger stops below the parity level. However, if the pair could reverse the bearish pressure and close above the parity level at the end of the week then we might see the start of a new bullish leg.

Today’s critical levels to watch:

Support: 1.0000

Resistance: 1.0339

GBP/USD

GBP/USD continues moving lower and printing a new lower low. The bearish situation might continue until the release of the U.S interest rate today. If the pair could reverse the bearish pressure and close above 1.1450 then a bullish reversal might happen to target 1.2000 – 1.2200.

Today’s critical levels to watch:

Support: 1.1450

Resistance: 1.2000, 1.2100, 1.2200

USD/JPY

USD/JPY stick near the high without change to the situation. The pair is consolidating near the top and waiting for a trigger to move. If the pair could continue the bullish movement and print a new higher high then the bullish trend is set to continue. Traders will continue waiting for a bearish correction to enter long positions at a lower place.

Today’s critical levels to watch:

Support: 140.00, 139.30, 135.19, 135.00

Resistance:

AUD/USD

AUD/USD print a new lower low on the daily chart before the Fed interest-rate decision. The pair might keep moving lower and target lower support levels. However, if the pair could reverse the bearish pressure and close the day above 0.6750 then there is a chance of bullish movement toward 0.7000 and higher.

Today’s critical levels to watch:

Support: 0.6750, 0.6700

Resistance: 0.6820, 0.7000, 0.7160, 0.7300