USDX (USD Index)
The U.S. dollar index opened lower today but immediately experienced a significant increase. The movement of the index is still bullish and there has been no change in the situation. As long as there is no decline below the daily SMA 200 and a formation of lower swing low point then the index will continue its bullish trend. Traders should avoid short positions on the U.S. dollar as long as the bullish situation persists.
EUR/USD
EUR/USD experienced a significant increase and reached a point near the daily SMA 200. However, now the pair has been pushed back down to its opening point. The situation of the pair seems to be still neutral between 1.0650 and daily SMA 200 also 1.0800. The pair’s next movement may still be flat with the possibility of being bearish towards 1.0650. Traders will wait for a close outside the area to confirm the direction of the pair’s next movement.
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 had jumped up in today’s trading, but this increase has been completely erased. Currently, the pair is near its opening point and there is a possibility of a decline to test the 1.2625 point and daily SMA 200. Traders will still wait for a close outside the 1.2625 – 1.2800 area to confirm the direction of the pair’s next movement.
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 and formed a higher high again. The pair will continue to move bullishly and there is no indication of a change in direction. Traders who already have a long position will continue to maintain it by moving the stop loss point below the latest swing low point. If a bearish correction occurs in the pair then it is an opportunity for traders 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 continues to move flat and there is no strong confirmation of the direction of the next movement. The pair is still maintained below the 0.6700 point and above the daily SMA 200. Consolidation will continue for the time being and traders will wait for a close outside the area to confirm the direction of the next movement.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000