USDX (USD Index)
The U.S. dollar index finally continued its bearish movement after the Fed’s interest rate announcement. The current situation of the index is bearish and will try to break down below the support of 100.00. As previously written, the index will continue its bearish trend with the aim of forming a lower swing low point. 101.50 resistance level shows a nice bearish bounce and is also a good place to go short on the U.S. dollar.
EUR/USD
EUR/USD started moving up even though it didn’t reach 1.1000. The pair will now continue its bullish trend and aim for the 1.1300 – 1.1360 area. Traders who already have long positions near 1.1000 will continue to hold those positions for now. Still the same as before, if there is a bearish correction in the pair then it is an opportunity to enter a long position.
Today’s critical levels to watch:
Support: 1.1000
Resistance: 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD bounced off 1.2800 and moved up to reach a point near 1.3000. The bullish trend continues and the pair will continue its bullish movement towards 1.3250 and 1.3300 – 1.3330 area. Traders will continue to maintain long positions and take advantage of the bearish correction to increase long positions in the pair.
Today’s critical levels to watch:
Support: 1.2800, 1.2625, 1.2200
Resistance: 1.3000, 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY is moving down below 141.00 and has tested the level near 139.30 today. The pair has the opportunity to continue its bearish movement towards 137.70 and the daily SMA 200. If the pair manages to close below the daily SMA 200 and also forms a lower swing low point then the bearish trend will continue. Conversely, if the pair can move up and then form a higher swing high point then the trend can turn bullish.
Today’s critical levels to watch:
Support: 140.00, 139.30, 137.70, 133.00
Resistance: 141.00, 145.00, 147.00
AUD/USD
AUD/USD has bounced off the daily SMA 200 and is moving up to continue its bullish trend. The pair still needs to form a higher swing high point to confirm the continuation of the bullish trend. If the pair reverses down and closes below the daily SMA 200 then the direction of the trend can change to bearish again.
Today’s critical levels to watch:
Support: 0.6750, 0.6700
Resistance: 0.6820, 0.7000