USDX (USD Index)
The increase in the U.S. dollar index to form a higher swing high point has caused a change in the medium-term trend. The bullish pressure that occurred was dominated by global uncertainty after Iran attacked Israel. It seems that the bullish situation on the dollar index will continue for the time being while traders wait for developments in the global situation. The increasingly heated war situation will continue to encourage an increase in the U.S. dollar index and hedging assets.
EUR/USD
EUR/USD has weakened and closed below 1.0650 so the bullish situation may be far from expected. The pair is in a bearish trend at the moment and will try to move down to test the previous swing low point. However, if there is an increase and closes above 1.0800 on the monthly chart then it will erase all bearish scenarios that occur. In the meantime, traders will continue to observe the development of the pair’s movements.
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 closed below the daily SMA 200 point and will now try to continue its weakness. Even though it is bearish, it seems that today the pair is trying to erase the decline that occurred. If the pair can move up and return above the daily SMA 200 point then the situation can turn bullish again. However, further weakness and the formation of a lower swing low point will be a strong confirmation of the continuation of the bearish trend.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY continues strengthening and forms a higher swing high point. The bullish trend is not broken and there is no bearish situation. Because of the situation in the pair, traders should maintain bullish sentiment and wait for a bearish correction to take a long position. The key to trend reversal is the formation of a lower swing low point below 147.00.
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 daily SMA 200 and also the trendline. Apart from that, the pair also continued to weaken below the 0.6500 point so the current trend can be said to be bearish. As long as the pair does not rise back above the daily SMA 200 SMA point, traders will assume the bearish trend will continue. However, if the pair does not form a lower swing low point immediately then the situation can become sideways and turn bullish again.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000