USDX (USD Index)
The U.S. dollar index pushed down yesterday but ultimately closed near last week’s closing point. The index situation still seems to be bullish and will continue to rise to form a higher high point. Since there is no change in the index’s bullish situation, traders should avoid short positions on the U.S. dollar as long as the index is still above the daily SMA 200.
EUR/USD
EUR/USD bounced down from a point near the daily SMA 200. The pair is still showing bullish indications today but there is a possibility that the direction of the movement may reverse. For now, the pair is in a bearish situation below the daily SMA 200. If the pair continues its weakening below 1.0650 and forms a lower swing low point then the trend will be bearish for the medium – long term.
Today’s critical levels to watch:
Support: 1.0650, 1.0500
Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD attempted to move up yesterday but ended up closing near its opening point. The pair will still be under bearish pressure near the 1.2625 point and traders will still watch the movement in the 1.2625 – 1.2800 area. If the pair continues to weaken and closes below the daily SMA 200 then the bearish trend will continue.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY made a bullish close yesterday and continued its advance. Higher highs are formed every day so there is no reason for traders to turn bearish on the pair. As before, if the pair starts a bearish movement then traders will wait near the previous swing high point for a bullish reaction. When a bullish reaction occurs, traders can consider entering a long position.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD is generally still moving flat between 0.6500 – 0.6700. The pair will continue its consolidation near the current point and traders will wait for further reaction. If the pair can make a close above 0.6700 then the bullish trend can continue. Likewise, a close below the daily SMA 200 and 0.6500 is a strong bearish confirmation.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000