USDX (USD Index)

U.S dollar index was rejected from the 93.00 resistance and the top of the channel. It seems the index will continue its bearish trend inside the channel. Traders will continue to avoid long positions in the U.S dollar for now at least until a higher high printed on the chart.

EUR/USD

EUR/USD supported near the 1.1820 support level. The pair also formed a bullish pin bar last week. If the pair confirmed to the upside this week then EUR/USD set to target 1.2000 and 1.2070 again. Traders could use 1.1710 and 1.1820 as levels to enter long positions.

today critical levels to watch:

Support: 1.1820, 1.1710, 1.1600, 1.1580

Resistance: 1.2000, 1.2070

GBP/USD

GBP/USD pushed below 1.3250 last week but managed to close the week above the level. The pair formed a bullish pin bar pattern at the end of the week. If the pattern is confirmed to the upside this week then traders will prepare for further upside to retest the 1.3450 – 1.3600 area.

Today Critical level to watch:

Support: 1.3250

Resistance: 1.3300, 1.3450, 1.3600

USD/JPY

USD/JPY hovering below 106.70 resistance level and under bullish corrective movement. No higher high or lower low printed yet. The pair currently trades inside the 105.00 – 106.70 area and expected to continue trading inside it this week.

Today critical levels to watch:

Support: 105.00, 101.19

Resistance: 106.00, 106.70, 108.00

AUD/USD

AUD/USD bearish correction might have ended as the pair formed a bullish pin bar pattern last week. This week, if the pair could make a bullish close above the pin bar high then AUD/USD set to continue its bullish trend toward 0.7500.

Today critical levels to watch:

Support: 0.7160

Resistance: 0.7330, 0.7450, 0.7500