USDX (USD Index)
The U.S. dollar index is slightly pushed lower today, but it can maintain its position near 103.82. The movement of the index is likely to remain flat while waiting for further developments. If the index continues its upward movement, the daily SMA 200 is a bullish target to watch. In the longer term, 100.00 is the downside target and traders will use the move to the resistance as an opportunity to enter short positions.
EUR/USD
EUR/USD is holding above 1.0650 and is consolidating near it. The pair has a chance to continue weakening toward the daily SMA 200. For now, traders can use the area between the daily SMA 200 and 1.0650 as a place to enter long positions. As long as no lower swing low is formed, the trend direction of the EUR/USD pair will continue bullish.
Today’s critical levels to watch:
Support: 1.0650, 1.0339
Resistance: 1.0800, 1.0900, 1.1000
GBP/USD
GBP/USD turned upside again so the situation is now neutral. In the previous bullish test, a lower swing high point was formed. It means the next direction might depend on the formation of a new higher high or lower low. If the pair continues to weaken then daily SMA 200 is the next support point to watch.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000, 1.1450
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY is waiting for further developments where the range of movement seems to be getting smaller day by day. If the pair weakens then the daily SMA 200 is a place where a higher swing low point is likely to form. As long as the pair can make higher swing highs and higher swing lows, the direction of the trend will continue bullish.
Today’s critical levels to watch:
Support: 133.00, 130.00, 125.00
Resistance: 137.70
AUD/USD
AUD/USD has reached the daily SMA 200 after a bounce from 0.6500. The pair will try to stay near that point while continuing to do bullish tests. When there is a close above the daily SMA 200, followed by the formation of a higher swing high, the direction of the trend will be more bullish.
Today’s critical levels to watch:
Support: 0.6500, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000