USDX (USD Index)
The U.S. dollar index bounced from the 103.50 level after the debt-ceiling negotiations succeeded in reaching an agreement. Today there was a further increase but the U.S. dollar index has returned to its opening point. The movement of the index will still be waiting for further developments. If the index continues its increase, the daily SMA 200 is a target for an increase.
EUR/USD
EUR/USD has reached 1.0650 and bounced from it. The increase was successful but only lasted temporarily and the pair is now under bearish pressure. If the pair continues to decline below the 1.0650 point then the daily SMA 200 is the next support to watch. As long as there is no lower swing low printed, there is still a chance for the pair to turn bullish.
Today’s critical levels to watch:
Support: 1.0650, 1.0339
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD is moving up again towards 1.2625 but at the end of last week, there was a bearish close. The pair is currently experiencing bearish pressure but is almost back to its opening point. If the pair could reverse the bearish pressure and start moving upward again then the bullish trend could continue. Nevertheless, if the pair could reach the 1.2000 – 1.2200 area and the daily SMA 200 then it is a chance for traders to enter long positions.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000, 1.1450
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY has not yet formed a lower swing low and is now looking to continue its bullish trend above the daily SMA 200. If the pair manages to form a higher swing high then the bullish trend will continue. Conversely, if a lower swing high and lower swing low is formed then the trend can turn bearish again.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD bounced up with good bullish momentum from 0.6500. The pair will try to continue strengthening toward the daily SMA 200 and 0.6700 level. If the pair can make a close above the daily SMA 200 and also form a higher swing high then the trend could turn bullish.
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000