USDX (USD Index)
The movement of the U.S. dollar index looks sideways near the daily SMA 200 point and there has been no further reaction. Consolidation will take place near the daily SMA 200 where traders will wait for further reaction from the index. If a bounce occurs then temporary strengthening will occur in the short term. It is estimated that the index will continue to weaken below the daily SMA 200 until the end of the year or early next year.
EUR/USD
EUR/USD increased above 1.0900 but there is no strong bullish momentum. However, the pair is expected to reach 1.1000 in the near future. Traders will continue to avoid short positions for now and wait for a bearish correction to the support point for the opportunity to add long positions to the pair.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0650, 1.0500
Resistance: 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD has reached 1.2625 or completed its bullish movement today. A bearish reaction occurred but it was not a significant bearish reaction. Next, the pair could start a bearish correction towards the 1.2500 point or the daily SMA 200 where traders can use this opportunity to add to long positions. There is also a possibility that the pair will only move flat near 1.2625 and then continue its bullish movement towards 1.2800.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY corrected bullishly and approached 150.00. The pair seems to have lost its bullish momentum and is now experiencing bearish pressure. If the pair continues to weaken then the 145.00 point will be a weakening target that traders can pay attention to. The situation has turned bearish for the pair, so traders are advised to only enter short positions.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD rose above the daily SMA 200 point and is trying to form a bullish close above it. As written in the previous analysis, the pair’s closing above the daily SMA 200 is a strong bullish confirmation of a long-term trend change. Traders will watch for a reaction near the daily SMA 200 for now.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000