USDX (USD Index)

The U.S. dollar index continued its bullish movement and soon reached the daily SMA 200. The space for an increase to this resistance point is getting narrower and there is a possibility that a bearish reaction will occur when the index manages to reach it. Traders will wait for a bearish reaction for the opportunity to enter short positions on the US dollar according to the previous plan. However, if the index continues to move up and forms a higher swing high point, the bullish trend will continue.

EUR/USD

EUR/USD went down and soon reached 1.0900. If the pair continues its weakening movement below the 1.0900 point then the 1.0800 point will be the next downside target. The bearish situation occurred because the inflation rate rose even though it was lower than expected. The pair situation might be bearish or sideways until next month’s FOMC meeting. Traders will use the current bearish opportunities to enter long positions when there is a bullish reaction at the support level.

Today’s critical levels to watch:

Support: 1.0900, 1.0800

Resistance: 1.1000, 1.1120, 1.1185, 1.1300, 1.1360

GBP/USD

GBP/USD is in the range of 1.2625 – 1.2800 and the pair has no indication of leaving that range. Consolidation is taking place and traders will use the opportunity to increase long positions near the support level. If the pair continues moving down, then the daily SMA 200 point will be the next target for weakness.

Today’s critical levels to watch:

Support: 1.2625, 1.2200

Resistance: 1.2800, 1.3000, 1.3250, 1.3300, 1.3330

USD/JPY

USD/JPY advanced above 145.00 and is currently forming a higher swing high. The movement of the pair has not shown a bearish reaction so far, so traders will be waiting for further reactions. If the pair can reverse sharply and create a bearish close then the decline may begin. Because the pair does not form a lower swing high point, traders will assume the bullish trend will continue.

Today’s critical levels to watch:

Support: 141.00, 140.00, 139.30, 137.70, 133.00

Resistance: 145.00, 147.00

AUD/USD

AUD/USD fell and formed a lower swing low point below 0.6500 so the bearish trend will continue. There is no reason for traders to enter long positions except that the pair is now at its lowest point since last May. As long as the pair continue forming lower swing lows and lower swing highs, entering a long position is a highly speculative position.

Today’s critical levels to watch:

Support: 0.6500

Resistance: 0.6700, 0.6750, 0.6820, 0.7000