USDX (USD Index)
Strengthening did not occur in the U.S. dollar index which has now fallen to the daily SMA 200 point. If the index penetrates this point and closes below it then there is a chance for the bearish trend to continue. Meanwhile, the index could move flat near the daily SMA 200 point ahead of the Fed’s interest rate decision. For now, traders will wait for a bearish close below the daily SMA 200 to confirm the continuation of the bearish movement.
EUR/USD
EUR/USD moved up and reached the daily SMA 200 point today. The pair will try to continue its increase and make a close above the daily SMA 200 point. As written previously, the trend will change when there is a close above the daily SMA 200 accompanied by the formation of a higher swing high point. Meanwhile, the pair may be still consolidating between 1.0650 and the daily SMA 200 ahead of the Fed’s interest rate decision.
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 jumped up today above 1.2625 and is back in the range of 1.2625 – 1.2800. Consolidation will take place within this area with a bullish bias. There is no change in the situation where traders will continue to accumulate for now with the daily SMA 200 point as the strongest support. A close above 1.2800 would be a confirmation of the continuation of the long-term bullish trend.
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 stuck at 150.00 and no higher swing high has been formed. If the pair weakens from the current point and manages to close below the 200 SMA point, the situation will turn bearish again. However, if the increase continues and the pair forms a higher swing high point then a long-term bullish trend could resume.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD is moving up and testing the daily SMA 200 point at the moment. As written previously, the key to the continuation of the bullish movement is closing above the daily SMA 200 and the formation of a higher swing high point. For the time being, traders will observe the pair’s movement near the daily SMA 200 point. If a bearish rejection occurs then consolidation between 0.6500 and the daily SMA 200 will take place.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000