USDX (USD Index)
The bearish movement of the dollar index has been underway and reached a point near 102.00. Weakening may continue, but currently, the index is experiencing a bullish correction to 103.50. Testing at the resistance point will occur, and traders will wait for a bearish reaction to add short positions in the U.S. dollar. In the long term, the trend direction has changed to bearish so traders should avoid long positions in the U.S. dollar.
EUR/USD
The pair managed to move up to reach 1.1000 and a bounce reaction occurred. EUR/USD fell and tested the 1.0900 point. If a bullish bounce occurs then traders can add to long positions. When the pair managed to close above 1.1000, it will confirm the continuation of the bullish trend. Meanwhile, a decline and close below 1.0800 and the daily SMA 200 will reverse the trend to bearish.
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 continued its weakness below 1.2800 and soon reached 1.2625. The tumultuous situation in the UK contributed greatly to the current downturn. However, as long as the 1.2625 points and the daily SMA 200 can withstand bearish pressure, the bullish situation can still be maintained. Traders can wait for the bearish pressure to subside before entering a long position.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY leaves no room for bull traders to rest as the pair continues to push downwards. Currently, the pair is moving near the 145.00 point and is likely to continue the movement not far from this point. The next downside target is 140.00 – 141.00. When the pair moves up to resistance points, traders will wait for a bearish reaction for the opportunity to enter a short position.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00, 155.00
AUD/USD
AUD/USD moved down sharply yesterday below 0.6500 but managed to maintain this support point at the end of trading. However, bearish pressure continues to mount on the pair and there is the possibility of further bearish attempts. Because the situation is still bearish, traders should not consider entering a long position unless they want to speculate with high risk.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000