USDX (USD Index)
The U.S. dollar index is continuing its flat movement above the daily SMA 200 point. The bullish trend has the opportunity to continue but with the risk of a drastic reversal when the Fed decides to cut interest rates. With the current situation, traders will wait for a weakening below the daily SMA 200 to confirm a bearish reversal on the index. The stock market is currently experiencing quite high inflows so the index could remain flat for now.
EUR/USD
EUR/USD is trying to move back above 1.0800. The pair is still in a bearish situation at the moment but fortunately, there is no lower swing low point formed on the chart. When the pair can move up and return above the daily SMA 200 point, the situation can turn bullish again. Meanwhile, if the pair is still moving down then the 1.0650 point is a support point that you can pay attention to.
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 consolidated near 1.2625 and today there was a breakout above this point. With the current bullish movement, the pair has returned to the range of 1.2625 – 1.2800 and will start consolidation within 1.2625 – 1.2800 with a bullish tendency. Even if bearish pressure covers the pair again, the daily SMA 200 point is a strong support point and traders will continue to use it as a place to enter long positions.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY is still trying to continue its strengthening to 150.00. Testing of this resistance point is likely to take place and traders will now wait for further reaction. If the pair continues to strengthen and forms a higher swing high point then the bullish situation can continue. However, if a bearish rejection occurs and the pair falls below 145.00 then the trend may change to bearish.
Today’s critical levels to watch:
Support: 145.00, 142.00, 141.00
Resistance: 147.00, 150.00
AUD/USD
AUD/USD is now holding above the 0.6500 point and will try to move up above the daily SMA 200 point. By closing above the daily SMA 200 point, the pair can start to continue its bullish trend again. However, if the pair still moves down and forms a lower swing low point then the bearish trend can continue. A close below 0.6300 will cancel the current bullish scenario.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000