USDX (USD Index)
The U.S. dollar index initially weakened in yesterday’s trading. However, the bearish pressure on the index reduced and it closed near the daily SMA 200 in the end. The index situation is currently still sideways with testing at the daily SMA 200 point. Traders will continue to wait for further reactions from the index. When a strong bearish reaction occurs and the decline continues to form a lower low, the bearish trend can continue.
EUR/USD
EUR/USD bounced from the daily SMA 200 point and briefly rose above 1.0900. However, the pair failed to make a close above the 1.0900 point. Consolidation will still take place in the pair between the daily SMA 200 and 1.0900. Still the same as before, traders will use the point between 1.0800 and daily SMA 200 as a place to enter a long position.
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 has not yet left the range 1.2625 – 1.2800 where consolidation is still ongoing. The pair’s movement will still be flat in this area and traders will wait for a close outside the area to confirm the direction of the next movement. If the pair is still moving down towards the daily SMA 200 point then traders will use this opportunity to enter a long position.
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 slowly losing its bullish momentum and has tested 147.00. The initial bounce reaction occurs and the pair can maintain the position above that point. If the pair is moving up then the 150.00 point will be the target for increases. As long as the pair does not form a higher swing high point, the pair’s situation is still bearish.
Today’s critical levels to watch:
Support: 145.00, 142.00, 141.00
Resistance: 147.00, 150.00
AUD/USD
AUD/USD experienced an increase in yesterday’s trading. However, the increase was erased and the pair closed near its opening point. The pair’s movement seems to be still hovering near the daily SMA 200 point and traders can only wait for further developments. As long as the pair does not form a lower swing low point, there is still a chance for a bounce and continuation of the bullish trend.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000