USDX (USD Index)
The U.S. dollar index continues to be under bearish pressure at the end of this week so the weakening has the opportunity to continue towards 103.50 and 100.00. Even though it is bearish, currently there has not been a lower low below the May low. When the index falls below this point, a downward movement can occur with strong bearish momentum.
EUR/USD
EUR/USD continues strengthening today and is testing the 1.0900 point. There has been no break above this resistance point so the 1.0800 – 1.0900 area can still be maintained. If the pair manages to close above 1.0900 at the end of this week then the bullish movement may continue towards 1.1000. As long as there is no close above 1.0900, consolidation between 1.0800 – 1.0900 will still take place.
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 took off from 1.2800 and soon reached 1.3000. This bullish movement has been predicted to occur beforehand so now traders only need to wait for the bullish target to be achieved. If the pair experiences bearish rejection and falls towards the 1.2625 – 1.2800 area, traders will have the opportunity to add to long positions.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.3000
USD/JPY
USD/JPY continues its weakness today but is limited near yesterday’s low. The pair has the opportunity to move down towards daily SMA 200 and 151.80. It should be noted, that the bullish trend is still not broken because no lower swing low point has yet been formed. In general, the 150.00 – 151.80 area will be an important area to change the pair’s trend from bullish to bearish.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD maintained its position above 0.6750 and now looks to be moving up. The pair will go towards 0.6820 and try to form a higher swing high point. When the pair manages to form a higher swing high point, that’s when the long-term bullish trend is confirmed. If the pair experiences weakness then the points 0.6700 and 0.6750 will become support points that traders use to enter long positions.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6820, 0.7000