USDX (USD Index)
Until now, the U.S. dollar index can still maintain its position near the daily SMA 200 point. The direction of the next movement will be determined by the index’s reaction. If the index bounces up again with strong bullish momentum, then there is a chance for the bullish movement to continue. Conversely, if the index moves down below the daily SMA 200 point with strong bearish pressure, the bearish trend can continue again after a lower swing low point is formed.
EUR/USD
EUR/USD is trying to move up above the daily SMA 200 again, towards 1.0900. The pair will return to its bullish trend when it closes above the daily SMA 200 point and forms a higher swing high point. However, if there is a close below the daily SMA 200 point or 1.0800 then there is a chance of a decline towards 1.0650 before the continuation of the bullish trend.
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 broadly within the 1.2625 – 1.2800 area again. Consolidation will take place inside this area and traders will again wait for a close outside the area to confirm the next direction. In the long term, the trend is still bullish and a close above 1.2800 would be a strong confirmation of the continuation of the 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 hasn’t moved much from a spot near 150.00. Consolidation is still taking place in the pair near that point. Still the same as before, if an increase occurs and the pair manages to form a higher swing high point then the bullish trend will still be maintained for the medium-long term. Meanwhile, if the pair moves down and manages to close below the daily SMA 200 then the trend may turn bearish.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD is stuck near the daily SMA 200 point and is still trying to add gains above it. The pair has not succeeded in forming a higher swing high point so there is still a chance for further decline. Meanwhile, if the pair continues to move down then it might test the 0.6500 point again.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000