USDX (USD Index)
The movement of the U.S. dollar index is bullish today with a movement above yesterday’s high point. The bullish trend will continue ahead of the announcement of the Fed’s interest rate in September. In addition, September is also a bearish month for the stock market so it will be a positive catalyst for the U.S. dollar index. Traders will continue to wait for a bearish reversal of the index to enter short positions in the U.S. dollar.
EUR/USD
EUR/USD is now near the daily SMA 200 and 1.0800. Currently, the price is experiencing bearish pressure and is likely to continue weakening. As before, traders will be waiting for a bullish reaction near the daily SMA 200 and 1.0800. When a bullish reaction occurs, traders can enter long positions with the assumption that the bullish trend will start again.
Today’s critical levels to watch:
Support: 1.0800
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD rose and experienced rejection from 1.2625 in today’s trading. Even so, the pair was still able to maintain the position and did not form a lower low. No change to the situation, if the pair can move up and close above 1.2625 then a bullish movement can start and the pair will return to the range of 1.2625 – 1.2800. However, if the weakening continues, then the daily SMA 200 point could become a target for weakness.
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 continued its advance in today’s trading while forming a higher swing high. The pair’s current movement is above 147.00 and is likely to continue. Still the same as before, as long as the pair continues to form higher swing highs and higher swing lows, the bullish trend will continue.
Today’s critical levels to watch:
Support: 145.00, 141.00, 140.00, 139.30, 137.70, 133.00
Resistance: 147.00
AUD/USD
AUD/USD is trying to move up but now the direction has turned bearish again. The pair is at risk of continuing the bearish move and forming a lower swing low. As long as the pair has not made a higher high and closed above 0.6500, the risk of further weakening is still high.
Today’s critical levels to watch:
Support:
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000