USDX (USD Index)
There are no strong indications for the direction of movement of the dollar index yet. Consolidation is still ongoing and there is a possibility for an increase towards 103.50 to test it. Traders will continue to take advantage of the current situation to add to their short positions in the U.S. dollar. The downside target for the U.S. dollar index is at 100.00 and remains in effect as long as the index continues to form lower swing highs and lower swing lows and continues to trade below the daily SMA 200.
EUR/USD
EUR/USD holding out above 1.0900 this week after the previous sharp drop below that point. The pair will consolidate between 1.0900 – 1.1000 now. If the pair continues to weaken, traders will use the 1.0800 points as a reference point to enter long positions. A new higher high will confirm the bullish continuation of the pair.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0339
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD is consolidating between 1.2625 – 1.2800 for now. The trend of the pair is still bullish and there are no changes in the strategy that traders can apply. When the pair manage to reach 1.2625, traders will take advantage of this situation for opportunities to enter long positions.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100
Resistance: 1.2800
USD/JPY
USD/JPY continues to slowly add to gains and will target the 145.00 and 147.00 points. There is no change in the bullish situation for the pair so traders should continue to avoid short positions. If the pair carries out a bearish movement then the point 141.00 is a support point that can be watched.
Today’s critical levels to watch:
Support: 141.00, 140.00, 139.30, 137.70, 133.00
Resistance: 145.00, 147.00
AUD/USD
AUD/USD fell and reached the daily SMA 200. The pair is currently trading near that point and will be waiting for a reaction. When the pair can make a strong bullish move from the current point then the bullish trend can continue. Traders will take advantage of the current situation to enter long positions near the daily SMA 200.
Today’s critical levels to watch:
Support: 0.6700, 0.6500, 0.6000
Resistance: 0.6750, 0.6820, 0.7000