USDX (USD Index)
The U.S. dollar index is recovering and is trying to rise above the daily SMA 200 point. A reversal in the short – to medium-term direction is expected to occur after a consecutive decline below the daily SMA 200 point. However, the direction of movement of the index is expected to be bearish in the long term and traders can wait near the resistance point for a short position opportunity on the U.S. dollar.
EUR/USD
EUR/USD experienced a bearish correction after reaching 1.1000. The pair has now reached daily SMA 200 and 1.0800. The next movement of the pair will wait for the reaction at these two points. If there is a strong bounce then traders can enter a long position with the assumption that the increase can reach a point above 1.1000. Meanwhile, there is a chance that bearish pressure will persist and the pair will move near the daily SMA 200 for a while.
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 is experiencing bearish pressure and has now reached 1.2625. The pair has the opportunity to continue weakening with the daily SMA 200 point as the decline target. If the bearish correction can reach daily SMA 200 then it is an opportunity for traders to enter long positions.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800
USD/JPY
USD/JPY continues its new bearish trend after the bounce from 150.00. This weakening movement has a target at 145.00 and then the daily SMA 200. Traders are advised to wait for a bullish correction to the resistance point for the opportunity to enter a short position.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD reached a point near 0.6700 and there was a bearish reaction today. The downward movement of the pair will test the daily SMA 200 point where traders will wait for a bullish reaction. When a strong bullish reaction occurs, it is an opportunity for traders to enter long positions.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000