USDX (USD Index)
The U.S. dollar index continues to move near the daily SMA 200 point and will wait for further reaction. Consolidation is still ongoing and traders can only wait for a bearish reaction. When a strong bearish reaction occurs, traders can enter short positions in the hope of continuing the bearish trend. However, if the index closes above the daily SMA 200 and then forms a higher swing high point, the trend can change to bullish.
EUR/USD
EUR/USD is experiencing bearish pressure again near the daily SMA 200 point so there is a possibility of a decline towards 1.0800. However, the pair is still trading near the daily SMA 200 point then a bullish reaction can occur at any time. Traders will use the area between 1.0800 and the daily SMA 200 as a place to enter long positions when a bullish reaction occurs.
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 did not move much inside the range of 1.2625 – 1.2800. The pair continues to consolidate and traders will continue to wait for the pair to close outside the area to confirm the direction of the next movement. The trend is still bullish so a decline towards the daily SMA 200 could be an opportunity for traders to add to long positions.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY maintains its position above 147.00 and is now waiting for a catalyst for the next movement. If the pair is still moving up then the 150.00 point is an increase target that needs to be paid attention to. A bearish reaction followed by the formation of a lower swing low point on the pair can confirm the continuation of the bearish movement.
Today’s critical levels to watch:
Support: 145.00, 142.00, 141.00
Resistance: 147.00, 150.00
AUD/USD
AUD/USD is moving sideways near the daily SMA 200 point and there has been no movement away from that point with strong momentum. The pair will continue its sideway movement and traders can only wait for further reactions. As long as the pair does not continue its bearish movement and forms a lower swing low point, there is still a chance for the bullish movement to 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