USDX (USD Index)

The movement of U.S dollar index contained near 92.00 and showed no indication the index will leave the level. Currently, there is possible uptrend channel formed on the daily chart. If the bull could maintain U.S dollar index above 92.00, it might bounce and start a bullish move next week. Otherwise, a close below 92.00 is detrimental to the bull effort to bring the index higher.

News to watch

For full outlook for this week, you can follow Forex Outlook For The Week 18 – 22 Sep 2017

Technical Analysis

EUR/USD

EUR/USD down after The Fed interest-rate decision which leaves the rate unchanged. On the meeting, The Fed announced they are ready to roll off its balance sheet in October. The weakness looks short-lived and EUR/USD already back near its opening level. There is a possibility the pair will continue bullish, but stay inside the yellow range.

Today critical level to watch:

Support: 1.1925, 1.1900, 1.1820, 1.1710

Resistance: 1.2000, 1.2070

GBP/USD

No direction change for GBP/USD as the pair sustain selling above 1.3500. The track is bullish, and a close above 1.3650 is the trigger to move toward 1.3835 – 1.4000.

Today critical level to watch:

Support: 1.3500, 1.3400, 1.3300

Resistance: 1.3600, 1.3700, 1.3835, 1.4000

USD/JPY

The bull continued its upward run after The Fed and secured a close above daily SMA 200. Friday trading initiated a selling to test 111.65 – 112.00 area. If the pair could close above daily SMA 200, it is a big reason to hold the position until USD/JPY reach 114.50.

Today critical level to watch:

Support: 111.60, 111.00, 110.50, 109.00, 108.80

Resistance: 112.00, 112.50

AUD/USD

AUD/USD bear is winning the battle at least for now. The previous day closed bearish and break below pin bar also the 0.8000 major level. Currently, the price is testing 0.7970, and rejection from this level will confirm further weakness in the pair.

Today critical level to watch:

Support: 0.7970, 0.7900

Resistance: 0.8000, 0.8100