USDX (USD Index)
The U.S. dollar index weakened for two consecutive days and almost returned to its starting point before the announcement of US inflation data. The position of the index is still trying to continue its bullish movement but seems to be having difficulty. If the index moves down again then the daily SMA 200 points and 103.50 will be support points that need to be paid attention to. A close below these two support points and also the formation of a lower swing low point will confirm a bearish trend.
EUR/USD
EUR/USD looks to be moving up and has erased all the losses that occurred when the U.S. inflation data was announced. The pair will try to continue its bullish movement to the daily SMA 200 point. Closing above the daily SMA 200 point will be a confirmation of the continuation of the bullish trend in the pair. Will the pair start to continue its bullish movement? Or will it fall towards 1.0650?
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 consolidating between the daily SMA 200 and 1.2625. In general, the pair still maintains its bullish trend and is waiting for a catalyst for upward movement. When the pair succeeds in closing above 1.2625 and 1.2800 in the short term, the bullish trend can continue immediately. Meanwhile, the pair will continue to consolidate between the daily SMA 200 and 1.2625.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY experienced bearish pressure near 150.00 yesterday. However, the pair can still maintain its position near that point. Today there was a bullish reaction but it was limited within the range of yesterday’s movement. If the pair moves down and closes below the 150.00 point with a strong bearish momentum then the bearish movement can continue. Meanwhile, further upside and the formation of a higher swing high point will confirm the continuation of the long-term bullish trend.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD rose above the 0.6500 level and has now erased all the losses incurred on Tuesday. The current situation is quite bullish and the pair will try to continue its strengthening towards the daily SMA 200 point. Closing above the daily SMA 200 point will be a strong bullish confirmation. The long-term trend is still bullish so traders will continue to accumulate long positions at this time.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000