USDX (USD Index)
The U.S. dollar index looks stronger and is currently above the daily SMA 200 point. The upward movement of the index is likely to continue for some time and traders will wait for a bearish reaction for short position opportunities. The direction of the trend will still be bearish as long as the index continues to form a lower swing low point.
EUR/USD
EUR/USD is experiencing bearish pressure near 1.0800 and the daily SMA 200. The pair has the opportunity to continue weakening below these two points with 1.0650 as the next downside target. Traders will wait for a bullish close to confirm a bounce from the support point. As long as there is no bullish reaction, traders should be careful when entering long 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 pushed down below 1.2625 and also traded below yesterday’s low. The pair’s bearish situation has the potential to continue with the daily SMA 200 point as a downward target that needs to be paid attention to. Traders can wait near this support point for long position opportunities when a bullish reaction occurs.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800
USD/JPY
USD/JPY is trying to continue its weakening with 145.00 as the weakening target. The pair can still hold near 147.00 for now. When a bullish correction occurs, traders can use the opportunity to enter short positions. We think the trend has turned bearish which mean traders better avoid long positions.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD fell with quite a strong bearish momentum today. The pair moved below the daily SMA 200 point and has the opportunity to continue its weakening towards the 0.6500 point. Traders will wait for the current dip to lose its bearish momentum and produce a bullish reaction. When a bullish reaction occurs, traders can enter a long position.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000