USDX (USD Index)
The bullish movement of the U.S dollar index continues above 93.00. The index now moving not far from the 94.00 resistance level. Under the current situation, traders might want to avoid shorting the U.S dollar and wait for a reaction near the resistance level. Next week, there will be a U.S job data release which traders will monitor closely.
Next month, the Fed will meet again and might announce confirmation of tapering.
EUR/USD
EUR/USD fell below 1.1710 and continue its bearish movement. The pair is at risk of bearish continuation toward the 1.1580 support level. However, if the pair could close above 1.1710 by the end of the week then there is a chance of bullish reversal.
Today critical levels to watch:
Support: 1.1710, 1.1580
Resistance: 1.1820, 1.2000, 1.2070
GBP/USD
GBP/USD got rejected from the daily SMA 200 and made a close below 1.3600. It is a major bearish continuation confirmation and the pair is expected to continue lower and reach 1.3450. If the pair moves upward and reaches 1.3600 then traders could consider entering short positions on bearish reaction.
Today Critical level to watch:
Support: 1.3450
Resistance: 1.3600, 1.3835
USD/JPY
USD/JPY surpassed the 111.00 resistance level and is now not far from the 112.00 resistance level. The pair could continue its upward movement and test the resistance level soon. Traders will observe the pair reaction near the resistance level. If bearish reversal happens then 111.00 might provide support for further upward movement.
Today critical levels to watch:
Support: 109.00, 108.00
Resistance: 110.00, 111.00, 112.00
AUD/USD
AUD/USD made a bearish close after rejection from 0.7300 – 0.7330 area. There is no lower low printed yet and the pair seems trading inside a range. If the pair resumes its bearish movement then it might test 0.7160 support level. On the upside, if the pair closes above 0.7330 then the trend could turn bullish again.
Today critical levels to watch:
Support: 0.7160, 0.7000
Resistance: 0.7300, 0.7330, 0.7450, 0.7500