USDX (USD Index)
The U.S. dollar index took a bullish path with a breakout above the triangle pattern. Today, the index made a bullish movement with quite a strong momentum and succeeded in forming a higher swing high point. If this increase continues, in the medium term the trend will be bullish and there is no possibility of a bearish reversal soon. Even though the situation is bullish, traders will wait for a bearish reversal and the start of a bearish trend again this year.
EUR/USD
EUR/USD fell below 1.0800 and will target 1.06500. The pair is in a bearish situation in line with the strengthening that occurred in the U.S. dollar index. If the pair can continue weakening and close below 1.0650 also form a lower swing low point then the bearish trend can resume. Meanwhile, if the pair can reverse direction and move up above 1.1000 then the situation may turn bullish.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0500
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD fell and broke below the daily SMA 200 today. The situation is quite bearish and is almost forming a lower swing low point. If the pair pushes down sharply and a lower swing low point is formed without reversal, then the bearish trend will continue. However, if the pair can reverse direction and close above 1.2625 then there is still a chance for further increases.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY is moving flat near the high point and waiting for further reaction. If the pair continues its strengthening and forms a higher swing high point then the bullish trend can resume. Meanwhile, a decline below the daily SMA 200 point and the formation of a lower swing low point will confirm a bearish reversal in the medium-long term.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD fell below the 0.6500 mark today and looks to have strong bearish momentum. The pair will try to form a lower swing low to confirm the continuation of the bearish trend. However, if the pair can reverse the direction of the movement and close above the daily SMA 200 then the situation can turn bullish.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000