USDX (USD Index)
The U.S. dollar index has strengthened again in today’s trading and will try to close the room for an increase toward the daily SMA 200. The bullish condition of the index will open opportunities for traders to enter short positions near the daily SMA 200 point. There is a possibility that the current movement will tend to be bullish approaching the interest-rate announcement by the Fed next month. As long as there is no close above the daily SMA 200 and no formation of a higher swing high, the direction of the trend will continue bearish.
EUR/USD
EUR/USD is consolidating between 1.0900 – 1.1000 and is currently experiencing bearish pressure from 1.1000. Traders will continue to wait for the pair to reach 1.0900 or 1.0800 for opportunities to enter long positions. When the pair can make a strong close above 1.1000 then it will be a confirmation of bullish continuation.
Today’s critical levels to watch:
Support: 1.1000
Resistance: 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD is continuing its consolidation between 1.2625 – 1.2800 and now the pair is weakening from a point near 1.2800. If the weakening continues, there is a possibility that the pair will move down toward the daily SMA 200. Traders will wait for a bullish reaction from the support points for opportunities to enter long positions.
Today’s critical levels to watch:
Support: 1.2625, 1.2200
Resistance: 1.2800, 1.3000, 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY turned up before the pair reached 141.00. Currently, the pair will try to continue its upward movement past last week’s high toward the resistance at 145.00. Will the pair form a higher swing high point? Or will the pair reverse sharply downwards before reaching 145.00 to form a lower swing high? For now, traders will watch the reaction of the pair near 145.00.
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 with quite a strong bearish momentum today and soon reached 0.6500. If the pair manages to continue its weakness and form a lower swing low below 0.6500 then the bearish trend will continue. Conversely, if the pair fails to form a lower swing low point there will be a bounce up with 0.6600 as the closest bullish target.
Today’s critical levels to watch:
Support: 0.6500
Resistance: 0.6700, 0.6750, 0.6820, 0.7000