USDX (USD Index)
The U.S. dollar index still maintains its position near the high point and there is no indication of a strong bearish reversal. However, if the index weakens and moves down then the 105.00 point can be a trader’s attention for a possible bounce up. In terms of trend, currently, the trend of the index is bullish so a short position on the U.S. dollar. is not recommended. However, in the long term, if there is a decline and closes below the daily SMA 200 or trendline then the situation may turn bearish.
EUR/USD
EUR/USD is holding above 1.0650 and a bounce reaction is visible. However, this reaction is not a strong bullish reaction and is likely to be temporary. The pair still has the opportunity to continue weakening so traders should be careful if they plan to enter long positions. On the upside, if the pair manages to reach 1.0800, then a bearish bounce reaction will likely occur.
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 made a bullish movement in today’s trading and has exceeded yesterday’s high point. A bullish correction seems to be underway with the daily SMA 200 as the upward target. For now, because the pair has formed a lower swing low point, traders will expect a bearish bounce. If the pair experiences a strong bearish rejection at the daily SMA 200 point then traders can enter a short position. Conversely, when there is a close above the daily SMA 200 point, the direction of the trend can change again.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY is generally still bullish and is now near the high point. The current situation is uncertain even though the overall sentiment is bullish. Because the BOJ can intervene at any time when the Yen continues to weaken. If there is a decline then the 150.00 point will be an important support point that traders can focus on. As long as there is no bearish confirmation, traders should continue to assume the bullish trend will continue.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD appears to be increasing and will try to move towards the 0.6500 point and daily SMA 200. This bullish movement is a bullish correction so traders will wait for a bearish reaction to occur. When there is a strong bearish reaction near the 0.6500 points or daily SMA 200, traders can enter short positions. Conversely, when there is a close above these two points, the trend direction will change to bullish.
Today’s critical levels to watch:
Support: 0.6350, 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000