USDX (USD Index)
The U.S. dollar index is continuing its bearish movement and is now near the daily SMA 200. There is a possibility of a bullish reaction and the index will stay near that point until the announcement of the NFP data. Traders will now be waiting for a reaction from the index near the daily SMA 200 point. If the index can bounce then there is a chance for an increase until the announcement of the Fed’s interest rate next month.
EUR/USD
EUR/USD closed above 1.0900 yesterday and will now try to continue its bullish movement towards 1.1000. The pair is in a good bullish situation and is likely to be the starting point of a new bullish trend. If the pair can rise and close above 1.1000 then the situation will become more bullish. However, the chances of further increases are unlikely because traders will be waiting for the Fed’s announcement next month.
Today’s critical levels to watch:
Support: 1.0800
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD is moving up above the 1.2625 point and will go towards the 1.2800 point. Pair consolidation between 1.2625 and 1.2800 will take place now and with bullish tendencies. If the pair can continue strengthening above 1.2800 strongly then the bullish trend will continue. For now, the pair is likely to be traded sideways until the Fed’s interest rate is announced.
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 is consolidating between 145.00 – 147.00 after experiencing rejection from 147.00. The situation of the pair is still bullish as long as no lower swing high or lower swing low forms. If the decline continues, the 137.70 – 141.00 area will become the focus of traders. The pair requires the formation of a lower swing low point to confirm a reversal.
Today’s critical levels to watch:
Support: 145.00, 141.00, 140.00, 139.30, 137.70, 133.00
Resistance: 147.00
AUD/USD
AUD/USD rose and tested the 0.6500 point. The pair is trying to make a close above that point. Currently, the pair looks bullish but limited near 0.6500. As long as there is no strong close above 0.6500, there is no confirmation of a bullish reversal yet. If the pair experiences a strong bearish rejection from 0.6500 then there is a possibility of further bearish attempts to form lower swing lows.
Today’s critical levels to watch:
Support:
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000