USDX (USD Index)
Significant weakening occurred in the U.S. dollar index today after the release of inflation data. CPI came in at 3.0% compared to expectations of 3.1%. Currently, the index is falling and testing the daily SMA 200 point and the bottom of the triangle pattern. There is no bearish confirmation as long as the index is still above the 200 SMA and manages to bounce up. At the current time, traders will observe the index reactions near the daily SMA 200.
EUR/USD
EUR/USD jumped up and managed to reach 1.0900. The upward target has been achieved and now the pair will test this point. If a bearish bounce occurs then the movement range between 1.0800 – 1.0900 will still be maintained. Meanwhile, an increase and close above 1.0900 will be a confirmation of the continuation of the bullish trend.
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 continued its rise above 1.2800 thus confirming the continuation of the bullish trend. The pair will try to target the points 1.3000 and 1.3250. If a bearish correction occurs in the pair, traders can use the 1.2625 – 1.2800 area as a place to add long positions. Even though it is bullish, the situation will still wait for the closing of the dollar index for further confirmation.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY fell sharply in today’s trading after the release of CPI inflation data. Even though the bearish pressure that is forming is very strong, the bullish trend is still not broken. When the decline can continue and form a lower swing low point, that is when the bullish trend is successfully broken. Still the same as before, the current bearish movement is said to be a correction movement, and traders better await the chance to add long positions near the support level.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD continues the rise above 0.6750 and will try to move towards 0.6820 next. The trend is slowly becoming bullish for the medium-long term. For now, if a bearish correction occurs in the pair, traders can use the 0.6700 and 0.6750 points as places to enter long positions when a bullish reaction occurs.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000