USDX (USD Index)
The U.S. dollar index continues to stay above the daily SMA 200 point with bullish bounces. However, there is still no confirmation regarding the direction of movement of the next index. U.S. inflation data shows figures that are slightly above estimates. Now, traders will wait for the Fed’s announcement regarding interest rates tomorrow. Will the dollar index bounce up towards 105.00? Or will the index immediately continue its bearish trend below the daily SMA 200?
EUR/USD
EUR/USD is currently consolidating near the daily SMA 200 point and is trying to move up above it. The pair is expected to experience high volatility after the interest rate announcement by the Fed. If the pair can move up and close above the daily SMA 200 then the trend may turn bullish for a while. However, if the pair continues to weaken then the point 1.0650 will be the target for decline.
Today’s critical levels to watch:
Support: 1.0650, 1.0500
Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD is currently below 1.2625 and has the opportunity to continue its decline towards the daily SMA 200 point. If the pair can reach the daily SMA 200 point and bounce up with a strong bullish reaction then the bullish trend movement can continue. Traders will wait near the daily SMA 200 for a bullish reaction and opportunities 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 bounced up from the daily SMA 200 and managed to stay above 145.00. The pair will try to continue its bullish movement with the point 150.00 as the upside target. Even though bullish, traders will wait for a bearish reaction near the resistance point for an opportunity to enter a short position.
Today’s critical levels to watch:
Support: 145.00, 142.00, 141.00
Resistance: 147.00, 150.00
AUD/USD
AUD/USD is consolidating near the daily SMA 200 point currently after previously managing to rise above this point. The pair is waiting for further bullish reaction to continue its bullish movement. If the pair moves down then the 0.6500 point is a support point where there is a chance of a higher swing low point forming.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000