USDX (USD Index)
The U.S. dollar index still has the opportunity to move up to reach the daily SMA 200 point. Traders will now wait for the index to lose its bullish momentum and experience a rejection from the resistance point. When there is a rejection from the resistance point, traders can consider entering a short position on the U.S. dollar. The long-term trend of the index is still bearish so traders are not advised to enter long positions.
EUR/USD
EUR/USD bounced from 1.0900 and had the opportunity to move up to test 1.1000. If the pair immediately continues its bullish trend then the point 1.1185 and the area 1.1300 – 1.1360 will be targets for increases. If it turns out that the pair is still moving down towards daily SMA 200 then traders can wait near that point for the opportunity to add to a long position.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0650, 1.0500
Resistance: 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD experienced a bounce from 1.2625 and will now try to move up towards 1.2800. The pair is still maintained in the range 1.2625 – 1.2800 and traders will take advantage of this situation to carry out range trading strategies. A long position is recommended because the pair is in a bullish trend and at any time an upward breakout could occur to continue 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 continued its upward movement above the daily SMA 200 and reached 145.00. The pair will likely try to continue its increase towards the next resistance point. Traders will wait for the pair to lose bullish momentum and experience a rejection near the resistance point. When a bearish rejection occurs, it is an opportunity for traders to enter a short position.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00
AUD/USD
AUD/USD is holding above the 0.6700 level and is trying to move up today. However, the increase that occurred experienced a reversal and now the pair is trading below the opening point. Traders will continue to observe the pair’s reaction near the trendline. As long as no lower swing low point is formed, the trend is still bullish and traders are advised to remain in long positions.
Today’s critical levels to watch:
Support: 0.6700, 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6750, 0.6820, 0.7000