USDX (USD Index)
The U.S. dollar index is stuck near the daily SMA 200 point and there appears to be a bearish bounce reaction. However, there is no movement with strong momentum so the index is likely to consolidate near the averages for now. Traders will continue to observe the reaction of the index near the current point. If the index bounces down then it is an opportunity for traders to enter short positions on the U.S. dollar.
EUR/USD
EUR/USD is trying to move up above 1.0900 but for now, the pair is losing its bullish pressure. Consolidation is likely to remain in place between the daily SMA 200 and 1.0900. For now, traders will use the point between daily SMA 200 and 1.0800 as a place to add long positions when testing and strong bullish reactions occur.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0500
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD is currently still in the 1.2625 – 1.2800 area so there has been no change in the pair situation. The sideway movement will still take place and traders will take advantage of the decline in the pair to the support point as an opportunity for a long position. A close outside the 1.2625 – 1.2800 area could be a confirmation of the pair’s next movement direction.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY surpassed 147.00 and has the opportunity to continue strengthening towards 150.00. The pair will try to form a higher swing high point to break the bearish situation that is forming. If the pair turns down again and immediately forms a lower swing low point then the bearish trend will continue.
Today’s critical levels to watch:
Support: 145.00, 142.00, 141.00
Resistance: 147.00, 150.00
AUD/USD
AUD/USD briefly fell below the daily SMA 200 point but the pair managed to avoid forming a lower swing low point. Currently, the pair is near the daily SMA 200 point. If a sharp increase occurs from the current point then the bullish trend can continue. Conversely, if there is a strong bearish bounce and a lower swing low is formed 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