USDX (USD Index)

The U.S. dollar index experienced a decline with quite strong selling pressure today. However, the index appears to have bounced from the daily SMA 200 point. Today’s reaction is thought to be caused by the ECB meeting where the European central bank reported its first loss since 2004. The increase in interest rates was the cause of this loss. Initially, the U.S. dollar index was under bearish pressure, but it immediately strengthened. If the strengthening of the dollar index continues then there is a possibility of an attempt to form a higher swing high point.

EUR/USD

EUR/USD tested the daily SMA 200 point and managed to overcome it initially. However, a bearish reversal occurred and the pair is now weakening below the opening point. Consolidation may still take place but with a bearish tendency. If the pair continues to weaken then traders will prepare for a movement 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 had moved up sharply above 1.2625 today. However, the gains have been erased and the pair is now near its opening point. There will likely be consolidation near 1.2625 for a while and traders will observe the further development of the pair. If the pair can still move sideways near 1.2625 then there is a chance that the range 1.2625 – 1.2800 is still maintained.

Today’s critical levels to watch:

Support: 1.2625, 1.2200, 1.2100, 1.2000

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY maintains its position near 150.00 and there has been no strong reaction from there. Consolidation will take place and the pair will also try to continue its bullish movement to form a higher swing high point. If the pair turns down below the 150.00 point then there is a chance of a decline towards 147.00 and the daily SMA 200.

Today’s critical levels to watch:

Support: 147.00, 145.00, 142.00, 141.00

Resistance: 150.00

AUD/USD

AUD/USD broke above the daily SMA 200 today and managed to surpass yesterday’s high. However, this bullish movement has reversed and the pair is now trading below the opening point. If the pair continues its weakness and closes below yesterday’s low then there will be a risk of further decline. On the other hand, if the pair can still move up and close above the daily SMA 200 at the end of the week then the situation will become more bullish.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6170, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000