USDX (USD Index)
The U.S. dollar index closed bearish yesterday but was still within the previous day’s movement range. The movement of the index still has the potential to be bullish with no major changes in the situation. Today, the release of core PCE inflation data is in line with analyst estimates so the situation can be said to be neutral. If the index continues its strengthening, there is a chance that a higher high will form. Meanwhile, to reverse the trend direction of the index, it requires a close below the daily SMA 200 and also the formation of a lower swing low point.
EUR/USD
EUR/USD was seen closing bullish yesterday and today there was an attempt at a bullish move. However, the pair is trapped in the movement range of two days ago. There is no confirmation that the pair will continue its increase towards the daily SMA 200 point. If the pair moves lower then the 1.0650 point is an important support point that needs to be paid attention to. A break below this point and the formation of a lower swing low will confirm the continuation of the bearish trend.
Today’s critical levels to watch:
Support: 1.0650, 1.0500
Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD is experiencing bearish pressure again near 1.2625. There has been no strong bounce reaction so there is a chance for the pair to move further down towards the daily SMA 200 SMA. Closing below the daily SMA 200 and the formation of a lower swing low point will be a strong bearish confirmation. For now, the pair is still in the 1.2625 – 1.2800 area so the situation is still neutral and consolidation in this area will still take place.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY continued its strengthening today by forming a higher high. The pair is still on a bullish path and there has been no change in the situation. A reversal is possible but traders should avoid short positions. If there is a decline then traders will wait near the support point for a bullish reaction and the opportunity to add to long positions.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD experienced a decline today but the pair reversed upwards and looks to make a bullish close. Even though there is a bullish movement today, in general, the pair is moving horizontally between 0.6620 – 0.6700. There is no strong confirmation yet for the direction of the pair’s next movement. If the increase can continue and there is a close above 0.6700 then the bullish trend can continue. Meanwhile, a strong decline can take the pair towards the daily SMA 200 and 0.6500.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000