USDX (USD Index)

The U.S. dollar index strengthened above the daily SMA 200 point but not significantly. Currently, the index is likely to move flat near that point ahead of the announcement of employment data and the Fed meeting. It is estimated that the weakening will continue and traders should wait for a bearish reaction for opportunities to enter short positions on the U.S. dollar.

EUR/USD

EUR/USD closed below the daily SMA 200 and near 1.0800. The pair is now trading near the 1.0800 point and will try to move up above the daily SMA 200. Traders will wait for further developments at these two points. When there is a close above the daily SMA 200 then it is confirmation for the continuation of the bullish movement.

Today’s critical levels to watch:

Support: 1.0800, 1.0650, 1.0500

Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360

GBP/USD

GBP/USD closed below 1.2625, opening the door to a decline towards the daily SMA 200. Traders can wait near this support point for a bullish reaction. When a bullish reaction occurs, it is confirmation for traders to enter a long position. There is a possibility that the decline that occurred did not reach that point and immediately reversed upwards.

Today’s critical levels to watch:

Support: 1.2625, 1.2200, 1.2100, 1.2000

Resistance: 1.2800

USD/JPY

USD/JPY is still on a weakening path towards 145.00. Currently, the pair is supported near 147.00 and is consolidating near it. If the pair can bounce up then the 150.00 point is a resistance point that can be considered for short positions. The 142.00 points and the daily SMA 200 can become long-term downside targets.

Today’s critical levels to watch:

Support: 147.00, 145.00, 141.00

Resistance: 150.00

AUD/USD

AUD/USD fell and closed below the daily SMA 200 with quite a strong bearish momentum yesterday. The pair currently looks to be moving up and will try to continue its bullish trend. Traders can start entering long positions with the previous swing low point as a place to place a stop loss. When there is a sharp increase, it is confirmation of the continuation of the bullish trend.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6170, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000