USDX (USD Index)

U.S dollar index moving upward in a bullish correction. The index might continue and reach the 94.00 resistance level then 95.00 resistance. Traders will avoid short positions in the U.S dollar for now at least until the index makes a bearish reversal pattern.

EUR/USD

EUR/USD closed below the 1.1820 support level and is now set to continue moving lower toward the 1.1710 support level. If the support level is broken to the downside then EUR/USD could extend the bearish movement and target 1.1450 – 1.15000 area. At the current time, traders who have short positions could continue to hold the positions and observe the pair reaction near 1.1710.

today critical levels to watch:

Support: 1.1710, 1.1600, 1.1580

Resistance: 1.1820, 1.2000, 1.2070

GBP/USD

The bearish pressure on GBP/USD managed to bring the pair down and close below 1.3000. The pair continues its bearish movement today and has moved below the previous day low. If the pair direction continues bearish then traders will expect GBP/USD to reach 1.2800 and the daily SMA 200 soon.

Without any bullish close on the daily chart, traders might want to stay out of long positions.

Today Critical level to watch:

Support: 1.2800

Resistance: 1.3000, 1.3050, 1.3250, 1.3300

USD/JPY

USD/JPY turned lower and looks will resume its bearish movement. The pair currently trades inside a triangle pattern and expected to continue the ranging movement. However, if the pair breakout below the triangle pattern and continues lower below 105.00 then traders will prepare for long-term bearish continuation.

Today critical levels to watch:

Support: 105.00, 101.19

Resistance: 106.00, 106.70, 108.00

AUD/USD

AUD/USD rejected from the 0.7330 and closed lower yesterday. The pair expected to continue the bearish movement and reach 0.7160 soon. If the bearish pressure continues to mount then traders will expect AUD/USD to continue lower and target 0.7000.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7330, 0.7450, 0.7500