USDX (USD Index)

U.S dollar index closed up on Monday trading session. The index is on track to move toward 93.00 resistance level and the top of the bullish channel.

News to watch

10.00 AM U.S CB Consumer Confidence, estimated reading of 119.9

10.30 AM FOMC Member Brainard Speaks

12.45 AM Fed Chair Yellen Speaks

For full outlook for this week, you can follow Forex Outlook For The Week 25 – 29 Sep 2017

Technical Analysis

EUR/USD

EUR/USD was down toward its bottom range at 1.1820. The pair showed further weakness today but looks limited as Yellen speech loom. Traders could look for long position opportunity when EUR/USD hit the support level. Otherwise, a strong downward break caused by Yellen speech might trigger deeper slump.

Today critical level to watch:

Support: 1.1820, 1.1710

Resistance: 1.1900, 1.1925, 1.2000, 1.2070

GBP/USD

GBP/USD ongoing consolidation to lead the pair trading between 1.3450 – 1.3600. There is no breakout of the range yet, and currently, the bull might return near the support.

Today critical level to watch:

Support: 1.3450, 1.3400, 1.3300

Resistance: 1.3500, 1.3600, 1.3700, 1.3835, 1.4000

USD/JPY

The bull could not bring the pair above daily SMA 200 and made the second close below the resistance level. Current range span between 111.64 – 112.50 and the close below 111.50 could bring USD/JPY back into bearish trend.

Today critical level to watch:

Support: 111.60, 111.00, 110.50, 109.00, 108.80

Resistance: 112.00, 112.50

AUD/USD

Mild rejection from the 0.7970 resistance level lead AUD/USD to close down Yesterday. If the pair move as expected, it should continue moving down toward 0.7850. The break of 0.7850 support will trigger further selling toward 0.7690 – 0.7750 area.

Today critical level to watch:

Support: 0.7900, 0.7875

Resistance: 0.7970, 0.8000, 0.8100