USDX (USD Index)
The U.S. dollar index experienced a decline after worse-than-expected U.S. manufacturing data. This bearish movement has the opportunity to continue toward the daily SMA 200 point. If the index manages to close below the daily SMA 200 and forms a lower swing low point then a bearish trend can begin. Meanwhile, if the index reverses upwards again and manages to form a higher swing high point then the bullish trend will continue.
EUR/USD
EUR/USD jumped up and closed near the daily SMA 200. Even though it was bullish, the pair was still stuck near the daily SMA 200 and also the 1.0800 point. If the pair manages to close above the daily SMA 200 and 1.0800 points, the bullish trend can continue immediately. Conversely, if a bearish rejection occurs and the pair falls to form and a lower swing low point then the trend direction will still be bearish.
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 jumped up from 1.2625 and currently, the pair’s position is not far from 1.2800. Consolidation is still taking place between 1.2625 – 1.2800 but there is a possibility that the pair will continue its bullish movement and breakout above 1.2800. When there is a closing outside the area, traders will get a confirmation of 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 bullish movement yesterday with the formation of a higher high point. The pair is still on a bullish path and there are no strong bearish indications. For now, traders will continue to maintain the bullish scenario and wait for a bearish correction in the pair for opportunities to enter 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 managed to close above 0.6700 and also formed a higher swing high. The situation of the pair will still be bullish with the point 0.6750 as the next target for the increase. Because the current situation has turned bullish, traders will use the 0.6700 point as a support point and if traders enter a long position, the stop order point can be placed below 0.6622.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000