USDX (USD Index)
The increase in the U.S. dollar index has managed to reach the daily SMA 200 point, which means the bullish target has been achieved. Currently, the index is likely to consolidate near that point while waiting for a reaction. If the index continues its upward movement and then forms a higher swing high point then the bullish situation can continue for a while. On the other hand, if there is a strong bearish reaction, it can be a sign of the continuation of the bearish trend.
EUR/USD
EUR/USD dipped and tested the 1.0900 spot yesterday. The pair managed to stay above the support point so that the movement range of 1.0900 – 1.1000 can be maintained. Consolidation will continue for now and traders will be watching for the pair’s further reaction within the area. If the pair continues to weaken, then 1.0800 and the daily SMA 200 can become a bearish target.
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 tested 1.2625 and made a bounce reaction in yesterday’s trading. The pair is still in the range of 1.2625 – 1.2800 and there has been no confirmation of movement out of the range. Currently, traders who have entered long positions near 1.2625 will maintain these positions. A rise and a close above 1.2800 will confirm the continuation of the bullish movement.
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 made a bullish close above 145.00 and also formed a higher swing high. Although not significant, it seems that the bullish movement in the pair will continue. However, if the pair experiences a strong bearish rejection then there is a chance for the pair to start a bearish move towards 141.00.
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 extended the weakness in yesterday’s trading and tested the previous swing low. The pair’s situation is still bearish and there is a possibility to continue the weakening below 0.6500. For now, the pair is experiencing bullish pressure and climbing above 0.6500 and yesterday’s high point. If the pair can continue its bullish movement with strong momentum, a short-term bullish reversal may occur.
Today’s critical levels to watch:
Support: 0.6500
Resistance: 0.6700, 0.6750, 0.6820, 0.7000