USDX (USD Index)
The U.S. dollar index is still sticking near the daily SMA 200 point for now with a bullish tendency. If the index can break upwards with strong bullish momentum then the direction of the trend may become bullish for a while. It is estimated that the index will move sideways for now ahead of the interest rate announcement by the Fed next week. In the long term, a lower swing low point has been formed so traders will only wait for a lower swing high point to form for bearish confirmation.
EUR/USD
EUR/USD is under bearish pressure and is moving away from 1.0900. The pair seems to have the opportunity to fall to test the 1.0800 point and the daily SMA 200. Traders can wait at these two support points for a bullish reaction. When the pair manages to bounce up with strong bullish momentum, traders can add long positions with a target at 1.1000.
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 weakened slightly but in general, is still staying not far from 1.3000. If the weakening continues then the 1.2800 point is a downside target as well as a support point that traders can use to add to long positions. Currently, the pair has succeeded in forming a higher swing high point and the decline that occurred is only a temporary correction so traders should avoid short 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 bounced down from the trendline and looks to be trying to continue its bearish movement. The pair has the opportunity to continue weakening towards the daily SMA 200 point and form a lower swing low point. If the pair manages to form a lower swing low point then the long-term trend direction can change 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 continues its weakness and does not see a bullish reaction after 6 consecutive days of decline. If there is no change in the situation then the pair will reach the daily SMA 200 point shortly. Traders will wait for the reaction of the pair near that point. If a strong bounce reaction occurs then the trader can enter a long position.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000