USDX (USD Index)
The U.S. dollar index is seen moving up towards 103.50 for 2 days. Even though it is moving up, the index seems to be experiencing bearish pressure again today. If the index can reach 103.50 and produce a bearish reaction then traders can consider entering a short position on the U.S. dollar. The trend is still bearish and currently, the index is only moving up due to a bullish correction.
EUR/USD
EUR/USD fell and tested the 1.0900 level and looks able to hold above it. The pair is now inside the 1.0900 – 1.1000 area and will try to continue its rise. A close above 1.1000 would be a strong confirmation of the continuation of the bullish trend. Meanwhile, if the pair closes below 1.0900 there will be a decline towards daily SMA 200 and 1.0800.
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 soon reached the daily SMA 200 and 1.2625. As previously written, the area between the daily SMA 200 and 1.2800 is a place where traders can consider entering long positions. When the pair can bounce up with strong bullish pressure, the trend direction can continue to be bullish. Meanwhile, if there is a decline and closes below the daily SMA 200 then the situation may turn bearish.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY looks to be making a bullish movement for the past 2 days. This upward movement is blocked by the point 147.00 where the pair is likely to move between 145.00 – 147.00 for the time being. If the pair succeeds in continuing its increase then the 150.00 – 151.80 area and the daily SMA 200 point will be the upward targets that traders can pay attention to. A bearish reaction from these points will open up opportunities for traders to enter short positions.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00, 155.00
AUD/USD
AUD/USD is again trying to move up towards the daily SMA 200 point. The pair managed to stay above the 0.6500 point for the time being. A close above the daily SMA 200 will be a confirmation of the continuation of the bullish movement in the pair. Meanwhile, a strong close below 0.6500 would be a strong bearish confirmation.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000