USDX (USD Index)
The U.S. dollar index closed above 101.50 and reversed the bearish situation formed last week. The index initially moved bearishly but the situation changed towards the weekly close. The decline did not reach 100.00 and the bullish candlestick erased all the losses that occurred. If the index continues its increase then there is a chance for movement towards the point 103.50 and daily SMA 200.
EUR/USD
EUR/USD closed near 1.1000 in last week’s trading where the bearish pressure was intense. The pair will try to maintain its position above the point of 1.1000 in this week’s trading. If the pair can continue to maintain its position above the 1.1000 point and bounce up strongly then the bullish trend can continue.
Today’s critical levels to watch:
Support: 1.1000
Resistance: 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD was able to stay within the 1.2800 – 1.3000 area during last week’s trading. So there is no confirmation of the next direction of movement of the pair. The pair probably will continue consolidation within the 1.2800 – 1.3000 area while waiting for the catalyst for the next movement. If the pair continues to weaken, then point 1.2625 and the daily SMA 200 can become targets for weakness.
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 jumped up at the end of last week’s trading driven by changes made by the BOJ. The current situation globally is caused by the strength of the U.S. dollar. However, in the medium to long term, it is likely that USD/JPY will continue to weaken in line with the strengthening of the Japanese Yen. Traders will take advantage of a bullish situation in the pair as an opportunity to enter short positions at a higher point.
Today’s critical levels to watch:
Support: 137.70, 133.00
Resistance: 139.30, 140.00, 141.00, 145.00, 147.00
AUD/USD
AUD/USD pushed below the daily SMA 200 and also the 0.6700 point. The pair’s movement is bearish but no lower swing low point formed yet. If the pair can avoid forming a lower swing low point then there is a possibility of a bullish reversal. A close above the daily SMA 200 could be a bullish confirmation.
Today’s critical levels to watch:
Support: 0.6750, 0.6700
Resistance: 0.6820, 0.7000