USDX (USD Index)
The U.S. dollar index fell below the daily SMA 200 point and has the opportunity to continue its weakening towards the 100.00 – 100.30 area. The index movement is still bearish and has formed a lower swing low point. If there is an increase, the daily SMA 200 point will become a resistance point where a bearish bounce is possible.
EUR/USD
EUR/USD experienced a bearish reaction at 1.1000 and closed near 1.0900 at the end of last week. The long-term movement of the pair has been bullish and only a close above 1.1000 is needed to confirm the continuation of the bullish movement. If the pair is still weakening then the daily SMA 200 and 1.0800 points will be places where traders consider adding long positions.
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 experienced rejection from 1.2800 and has the opportunity to move lower towards 1.2625. Traders can wait for a test of the support point and a bullish reaction for the opportunity to add to a long position. Trendwise, the pair has a bullish trend and there is no reason for traders to enter short positions. Every bearish correction that occurs is an opportunity to add to your long position for now.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800
USD/JPY
USD/JPY made a lower swing low point and also closed below the daily SMA 200 point. The pair is currently moving close to the daily SMA 200 and also the 142.00 point. In terms of trend, the direction of movement of the pair is bearish and if there is a bounce at the daily SMA 200 point, traders will wait near the 145.00 point for the opportunity to add to the short position.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00
AUD/USD
AUD/USD closed near 0.6700 and is seen gaining ground today. The pair will temporarily trade between 0.6700 – 0.6750 and traders will wait for further reaction. Will the pair immediately penetrate this area and continue the bullish trend? Or will the consolidation last for some time while the pair waits for bullish momentum to form?
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000