USDX (USD Index)
The U.S. dollar index moves within the range of candlestick movements formed on the day of the U.S. non-farm employment announcement. Currently market players are still weighing the possibility of lowering interest rates in the US and also the actions that will be taken by the central bank ahead of the election. Still the same as before, when the index moves up towards the daily SMA 200 and forms a bearish reaction, traders can enter a short position on the U.S. dollar.
EUR/USD
EUR/USD is still maintained within the movement range of 1.0900 – 1.1000 so there is not much change in the situation after the announcement of the US employment data. Traders will again wait for the pair’s movement out of the 1.0900 – 1.1000 area to determine the next direction. If the pair is still weakening towards the daily SMA 200 then traders can wait for a bullish reaction for long position opportunities.
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 continued strengthening in the range of 1.2625 – 1.2800 yesterday. However, the pair appears to be experiencing bearish pressure today and is likely to move down. Traders will take advantage of the pair’s decline towards 1.2625 and daily SMA 200 as an opportunity for a long position. A close above 1.2800 will be the key to continuing the bullish movement towards 1.3000.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY experienced a slight decline towards the daily SMA 200 but immediately turned bullish today. The pair’s consolidation near the daily SMA 200 and the 145.00 point seems to be still ongoing. If the pair can experience strong bearish pressure and closes below the daily SMA 200 then the bearish situation can continue and the pair will target the formation of a lower swing low point.
Today’s critical levels to watch:
Support: 142.00, 141.00
Resistance: 145.00, 147.00, 150.00
AUD/USD
AUD/USD fell below the 0.6700 level today and has a chance to make a close below it to confirm a further bearish correction. Traders will still observe the pair’s movement near 0.6700 – 0.6750 for now. If the pair continues to weaken towards the daily SMA 200 then it is an opportunity for traders to enter a long position when a bullish reaction occurs.
Today’s critical levels to watch:
Support: 0.6700, 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6750, 0.6820, 0.7000