USDX (USD Index)

There was no strong reaction on the dollar index near the daily SMA 200 point. The sideway movement is still ongoing and traders can only continue to observe the reaction of the index. If bearish rejection and consecutive declines occur then the bearish trend will continue. However, if the index manages to rise above the daily SMA 200 and then forms a higher swing high then the situation may turn bullish for the short term.

EUR/USD

EUR/USD fell and tested the 1.0800 point yesterday and managed to close again near the daily SMA 200. Consolidation is still ongoing and as previously written, traders can use the area between 1.0800 and the daily SMA 200 as a place to accumulate long positions. As long as the pair does not form a lower swing low point, there is still a chance for the bullish movement to continue.

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 fell and headed towards 1.2625 in today’s trading. The pair’s movement range is still between 1.2625 and 1.2800 so traders will take advantage of the current decline as an opportunity to enter a long position. Consolidation will take place in the range 1.2625 – 1.2800 and traders will still wait for confirmation of closing outside the range to determine the direction of the next movement.

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 now above 147.00 and is waiting for confirmation of the next direction of movement. If the pair falls sharply and then manages to form a lower swing low point then the bearish trend will continue. On the other hand, if the pair moves up again and manages to form a higher swing high point, then the situation will return to bullish in the long term.

Today’s critical levels to watch:

Support: 145.00, 142.00, 141.00

Resistance: 147.00, 150.00

AUD/USD

AUD/USD made a bullish close yesterday from the daily SMA 200 point. But this increase has been erased in today’s trading. The pair might continue its consolidation near the daily SMA 200 point and traders will wait for further reaction. A more bullish scenario is being considered with the possibility of a higher swing low near the current daily SMA 200. If the pair falls and forms a lower swing low point then the situation will turn bearish for the medium 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