USDX (USD Index)
The increase was experienced by the U.S. dollar index which has now reached the daily SMA 200 point. As previously written, a bullish correction is underway and is currently testing the daily SMA 200 point. If the index bounces down then traders can enter a short position on the U.S. dollar. However, if there is a close above average then there is a possibility that the increase could continue towards 105.00.
EUR/USD
EUR/USD weakened below 1.0900 and will now try to continue weakening towards the daily SMA 200 and 1.0800. Traders can wait for a bullish reaction at both points for an opportunity to enter a long position. In the long term, the trend is still bullish so traders will avoid short positions.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0500
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD was pushed down to 1.2625 and is now testing it. If the pair continues to weaken then the daily SMA 200 point will be the target for decline. For now, traders will take advantage of the bearish correction that is occurring as an opportunity to enter long positions at support points.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800
USD/JPY
USD/JPY made a bullish close yesterday and has a chance to continue the upward movement towards 150.00. However, the strengthening that occurred has reversed direction and the pair experienced weakness today. Still the same as before, the pair’s weakening targets are at 147.00 and 145.00.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD dropped to test the daily SMA 200 yesterday and there was a bounce reaction. Today the pair looks to be moving up and has erased the decline that occurred yesterday. If there is no change in the bullish situation then the pair can immediately move up towards 0.6700 and 0.6750.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000