Key levels to watch out for heading into NFP (FX)

Dollar index is closer to its levels of supports ranging from 94.6 to 92.7. So it is facing quite a crucial test today and going ahead as today’s move can be key influence. So far since 2015, it has tested the area five times and now it is going for the sixth.

Following are the levels to watch out for today:

EUR/USD

Euro is currently trading at 1.139 against Dollar. Key levels to watch on the downside for intraday would be 1.13 and more important beyond today is 1.114 area. On the upside it is around 1.145-1.15 area.

GBP/USD

Pound is struggling to gain amid relentless selling pressure and might test support around 1.419 if it fails to break above 1.445. Currently trading at 1.435. Tight stop loss recommended.

USD/JPY

For Dollar/Yen key supports are around 112 and 111, whereas resistance is around 112.7, 114.

USD/CHF

Franc is likely to strengthen against Dollar. For Dollar/Franc, key support lies around 0.95 area, breaking which likely to push the pair to 0.93, 091 and finally 0.9 area. Resistance lies around 0.98, 0.99 and 1.01.

AUD/USD

Aussie, since late January, has strengthened more than 800 pips against Dollar and now the rally is looking a bit stretched. So there could very well be correction in order. Key resistance for Aussie is around 0.783 area and support at 0.75 and 0.742

NZD/USD

Kiwi has broken above key resistance around 0.69 and now testing psychologically vital 0.7 area. If broken no resistance before 200-250 pips in sight, whereas 0.667 and 0.658 likely serve as key resistance.

USD/CAD

Loonie is more linked to move in oil price. Has reached initial targets around 1.285-1.29 area. There could be correction in the pair in upside. 1.327 likely to act as resistance for the pair.