USDX (USD Index)
Strengthening occurred again in the U.S. dollar index without the index touching the support point of 105.00. This increase has quite a strong momentum and has erased the decline that occurred this week. It seems that the bullish trend will continue on the dollar index and traders will now continue to avoid short positions on the U.S. dollar. The key to continuing the current bullish movement is the formation of a higher swing high point.
EUR/USD
EUR/USD experienced quite strong selling pressure today. The pair weakens and has the opportunity to move down to 1.0650. Testing of the support point will likely take place and traders will observe the pair’s reaction. The bearish trend will continue if a downward break occurs and a lower swing low point is formed. Meanwhile, if the pair maintains the positions and moves up again, then the daily SMA 200 point is the resistance point that traders will focus on.
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 experienced an increase but immediately reacted bearishly near the daily SMA 200 point. The pair is now below the opening point but remains above yesterday’s low point. If the pair continues its weakening with a strong bearish momentum then the bearish trend will continue. Meanwhile, if the pair can move up and close above the daily SMA 200 point then there is an opportunity for a bullish reversal.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY continues its rise with quite strong bullish momentum today. Although bullish, it seems that the current movement is quite impulsive and there is a risk of a sudden reversal. Traders will now wait for further developments if they do not have a position. Still the same as before, short positions are not recommended because the trend is bullish and there are no indications of a reversal yet.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD rose again and tested the daily SMA 200 point today. The test experienced a bearish reaction and now the pair is trading near the opening point. If the pair continues to weaken with a strong bearish momentum then the bearish trend will continue again. Meanwhile, if the pair manages to continue its increase and close above the daily SMA 200 point, there is an opportunity for a bullish reversal.
Today’s critical levels to watch:
Support: 0.6350, 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000