USDX (USD Index)
The U.S. dollar index made a higher swing high point which is confirmation that the current bullish pressure has not ended. The formation of a higher swing high point can cause changes in the situation in the medium term. However, the next situation will still be determined by the Fed meeting next week. If the index reverses direction sharply and then can close below the daily SMA 200 in a few months then the situation will become bearish.
EUR/USD
EUR/USD has reached 1.0650 in yesterday’s trading. The pair also formed a close below this point so there is a risk of further weakness. For the time being, traders will only observe the reaction of pairs near that point. If the pair can bounce up with strong bullish momentum then there is a possibility that the direction of movement can change. The Fed meeting next week will be the key to determining the direction of the pair’s movement until the end of the year.
Today’s critical levels to watch:
Support: 1.0650
Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD fell and closed below the daily SMA 200 point so there is still a chance of further bearish pressure. The pair will now wait for developments. If there is an increase and close near the daily SMA 200 then the consolidation will last until the Fed meeting next week. Can the pair reverse its current trend direction and become bullish again? Or will the weakening continue?
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000, 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY was able to stay above 147.00 and now looks to be adding to its gains. The pair will try to continue its strengthening and form a higher swing high point. If the pair can continue its strengthening then the 150.00 point can be the target for the next upward movement.
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 slowly adding to gains and trying to move towards 0.6500. It seems that the pair will close not far from that point and will consolidate ahead of the Fed’s announcement next week. If the pair can move up, close above 0.6500, and form a higher swing high point then the direction of the trend will change to bullish.
Today’s critical levels to watch:
Support:
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000