USDX (USD Index)
The U.S. dollar index showed a bullish reaction after reaching a point near 103.50. The rise is underway and the daily SMA 200 point will undergo a test. Traders will now wait for a reaction from the index near the daily SMA 200 point. If there is a close above this point with strong bullish momentum then the bullish movement can continue. Meanwhile, if there is a bearish bounce, the point below 103.50 could become a target for weakness.
EUR/USD
EUR/USD closed bearish yesterday near 1.0900 and today saw continued weakness. The range 1.0800 – 1.0900 will be the area where the pair moves. However, the trend tends to be bullish because the pair has closed above 1.0900 and printed a new higher swing high point. Traders can wait near 1.0800 and the daily SMA 200 for a bullish reaction.
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 experienced a bearish reaction from 1.3000 and started to move lower. The pair may move down towards 1.2800 where traders can wait for a bullish reaction. When a strong bullish reaction occurs, traders can enter long positions. Since the trend has turned bullish, traders are advised to continue accumulating long positions. However, if the pair fails to bounce and falls below 1.2625 or daily SMA 200 then the trend direction may change to bearish.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.3000
USD/JPY
USD/JPY fell below the trendline so the trend situation has turned bearish. However, it should be noted, that no lower swing low point has yet been formed so the situation can still change. However, the intervention carried out by the BOJ is currently likely to continue and try to bring the pair down and confirm the continuation of the bearish trend. Currently, the pair is rising again, and testing the trendline, traders will observe further reactions from the pair near the trendline.
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 to weaken and reaches 0.6700. The pair will now test this point for now and the trader will wait for the pair’s reaction. If the pair can bounce up with strong bullish momentum then the direction of movement can continue to be bullish. Meanwhile, if the decline continues and the pair falls below the daily SMA 200 then the trend direction may change to bearish again.
Today’s critical levels to watch:
Support: 0.6750, 0.6700, 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6820, 0.7000