USDX (USD Index)
The U.S. dollar index reached 103.50 and experienced a slight downward reaction. Currently, the index looks to be moving flat and is likely to close near its opening point and not far from 103.50. If the index continues its bearish movement, the points 102.00 and 100.00 will be the downside targets that traders will pay attention to. A close above 103.50 could take the index further up towards the daily SMA 200.
EUR/USD
EUR/USD is holding above 1.0900 and will continue its movement between 1.0900 – 1.1000. The pair is still on a bullish path and has the opportunity to rise to test 1.1000 in trading next week. If the pair continues to weaken, the daily SMA 200 and 1.0800 points will be targets for decline and places where traders can consider adding long positions.
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 bounced off a spot near the daily SMA 200 and saw a bullish attempt towards 1.2800. The pair will try to maintain its position above the daily SMA 200 and 1.2625 to continue the bullish movement. If the pair falls and closes below these two points, a lower swing low will be formed which confirms further bearish movement. An increase and close above 1.2800 could be an initial confirmation of the continuation of the bullish movement.
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 limited below 147.00 and today there is a bearish reaction. If the pair continues to weaken immediately then the 145.00 point is the closest support point. The next long-term downside targets are at 141.00, and 139.30. Still the same as before, traders will use every increase that occurs in the pair as an opportunity to add a short position at the resistance point.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00, 155.00
AUD/USD
AUD/USD rose and closed with a strong bullish candlestick yesterday near the daily SMA 200 point. The pair will now test the daily SMA 200 point and traders will wait for the weekly close. When there is a close above the daily SMA 200 point, the bullish movement can continue. Meanwhile, if a strong bearish rejection occurs, the pair will move between 0.6500 and the daily SMA 200.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000