USDX (USD Index)
The U.S. dollar index is continuing its movement near the daily SMA 200 point. There is no strong confirmation as to the direction of the next movement. U.S. inflation data release Today can have a moving effect on the index. If the index bounces up and forms a higher swing high point then the bullish trend can resume. Conversely, a decline below the daily SMA 200 point and also the formation of a lower swing low point will confirm the continuation of the bearish trend.
EUR/USD
EUR/USD was pushed down below the daily SMA 200 yesterday. But the bounce occurred near the 1.0800 point so the pair managed to close above the daily SMA 200 SMA at the end of the day. The situation of the pair is still bullish with its position near the daily SMA 200 point. Traders will continue to use the area between 1.0800 and the daily SMA 200 point as a place to accumulate long positions.
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 maintained in the range of 1.2625 – 1.2800 even though it is still experiencing bearish pressure. The movement of the pair will be flat in the 1.2625 – 1.2800 area and traders will wait for a close outside the area to confirm the direction of the next movement.
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 experiencing significant bearish pressure today. The pair went down and tested the 150.00 point without any bullish reaction. If the pair can penetrate this point and then close below the daily SMA 200 then the bearish trend will continue. There have been no changes to the scenario in the pair until now. If the pair turns up and forms a higher swing high point then the situation will continue to be bullish.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD pushed down below 0.6500 but not with strong bearish momentum. There is a chance for a bullish reversal in the pair. When the pair successfully closes above the daily SMA 200 point, the trend will change to bullish. However, if the pair falls below 0.6500 and forms a lower swing low point then the bearish trend will continue.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000