USDX (USD Index)
The U.S. dollar index movement was only sideways near the daily SMA 200 point before the weekly close. Traders can only wait for the index to move away from the daily SMA 200 point to confirm the direction of the next movement. For now, traders will still prefer short positions on the U.S. dollar due to the possibility of an interest rate cut by the Fed.
EUR/USD
EUR/USD maintains its position near the daily SMA 200 point and is still seen moving flat like the U.S. dollar index. There is not much that traders can do, for now, a long position is still recommended between 1.0800 and daily SMA 200. As long as the pair can maintain its position and does not form a lower swing low point then the situation is still bullish.
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 continuing its consolidation between 1.2625 – 1.2800 and there has been no strong movement to confirm the direction of the next movement. There is no change this week, traders will continue to wait for a close outside the 1.2625 – 1.2800 area to confirm the direction of the next movement of GBP/USD.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY bounced from 147.00 but there was no continuation of the bullish movement with strong momentum. The pair will still be traded not far from 147.00 and traders will continue to observe developments in the current situation. If the bearish reversal occurs strongly then the bearish trend will resume in the pair.
Today’s critical levels to watch:
Support: 145.00, 142.00, 141.00
Resistance: 147.00, 150.00
AUD/USD
AUD/USD is holding near the daily SMA 200 point and waiting for bullish momentum to continue its bullish trend. Traders will continue to use the daily SMA 200 and 0.6500 points as places to enter long positions at this time. As long as the pair does not form a lower swing low point, the bullish situation can continue in the long term.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000