USDX (USD Index)

U.S dollar index printed a more bullish close yesterday. The index climbed and closed above 94.30. We could see further bullish movement today and the index might target 95.00 next. If the bear wants to reverse the current bearish pressure then they need a close below 94.00.

We think the U.S dollar index could reach 95.00 and might target daily SMA 200 next.

EUR/USD

EUR/USD fell below the 1.1710 support level and extended its bearish movement today. The pair expected to target 1.1450 – 1.1500 support area. If the bearish pressure continues below the 1.1450 – 1.1500 support level then traders will expect 1.1300 – 1.1360 will come under test.

today critical levels to watch:

Support: 1.1600, 1.1580

Resistance: 1.1710, 1.1820, 1.2000

GBP/USD

GBP/USD made another close below daily SMA 200 but without strong bearish momentum. The pair currently stick near the averages and waiting for a reaction. If the pair continues moving lower then traders will expect a test on the red trendline and the 1.2625 support level.

Today Critical level to watch:

Support: 1.2625

Resistance: 1.2800, 1.3000, 1.3050

USD/JPY

USD/JPY managed to bounce and closed above 105.00 support level. The pair significantly higher and might confirm the double bottom pattern on the chart. On the upside, the pair need to print a higher high above 106.70 to continue its bullish reversal.

We still think the pair will move lower and continue its bearish trend.

Today critical levels to watch:

Support: 105.00, 101.50, 101.19

Resistance: 106.0, 106.70

AUD/USD

AUD/USD mostly lower, continuing its bearish movement toward the 0.7000 support level. The pair not far from the support level and soon will reach it. Without a bullish reaction or bullish close after the test, traders will avoid long positions.

Further weakness below 0.7000 will lead the pair down to test the daily SMA 200 and 0.6820.

Today critical levels to watch:

Support: 0.7000

Resistance: 0.7160, 0.7300, 0.7330